Samsung's latest flagship smartphone has yet to touch down on US shores but that certainly isn't enough to stop the perpetual motion machine known as the rumor mill. Following in the footsteps of the Galaxy S 4 is a super budget-minded handset known as the Galaxy Core. This low cost handset is expected to position itself just behind the previously rumored Galaxy S 4 Mini according to the latest web leak.

A Russian publication claims the Galaxy Core will ship with a 4.3-inch display operating at 800 x 480 resolution, a dual-core 1.2GHz processor of unknown origin, a peculiar 768MB of system memory, 8GB of flash storage in addition to a microSD card slot for further expansion, a 5-megapixel rear camera, dual SIMs and an 1,800mAh battery. The handset is expected to ship with Android 4.1 running a TouchWiz overlay.

Engadget points out that this handset is very similar to the Galaxy S II Plus, the Galaxy S III Mini and the China-bound Galaxy Win. The price tag of 14,000 rubles ($430) also seems a bit high given the hardware specifications but that seems to be the norm in Russia.

The Galaxy Core is expected to launch sometime next month in Russia, we're told. No word yet on if or when the phone will make its way to other countries. If it does, however, we certainly hope the price tag comes down a bit as there are currently better bang for the buck options available.