A couple of days ago, rumors were rife that Samsung might have axed the 64GB variant of its latest flagship model Galaxy S3. However, disapproving the speculations, Samsung has recently disclosed in The Verge reports that the new 64GB variant of the smartphone is on track for release later this year.

The former report exploded, when a UK retailer started canceling orders for the device fitted with 64GB storage capacity.  

The Korean giant has now confirmed that the 64GB variant will be released in the second half of the year; however, they have cautioned that the device is currently scheduled for an international rollout. Hence, U.S. customers may have a longer wait on their hands, said the report. Here is the statement issued by Samsung:

"The 64GB model of the GALAXY S III will be available during the second half of this year. The market availability and timing may vary and will be determined at the time of release."

After debuting in U.K., the S3 has been trickling into the U.S. market and is now available through all four major carriers. Verizon Wireless, AT&T, and Sprint are asking $199.99 for the 16GB version and $249.99 for 32GB model. T-Mobile's prices are higher, coming in at $279.99 for the 16GB model and $329.99 for the 32GB edition.

As far as features of the Android heavyweight are concerned, the U.S. version of Galaxy S3 features a Qualcomm Snapdragon S4 1.5 GHz dual-core CPU with 2GB of internal RAM, instead of 1.4GHz quad-core Samsung Exynos processor (global version).

With a 4.8-inch HD Super AMOLED display, the device comes packed with 4G (a.k.a. LTE and HSPA+) capabilities, offering 16GB or 32GB worth of internal storage that can be expanded via microSD.

S3 features an 8 megapixel rear-facing camera, a 1.9 megapixel front-facing camera and a 2,100mAh removable battery.  The smartphone comes flavored with Android 4.0 Ice Cream Sandwich and TouchWiz UI overlay.

The new phone hosts a plethora of software features such as S Voice and S Beam, with the former allowing users to execute commands via their voice and with the latter allowing quick file sharing just by touching the devices.

The South Korean tech giant has already claimed that sales of Galaxy S3 could touch 10 million units by the end of July. According to a collection of analysts recently polled by Reuters, Samsung likely sold around 50 million smartphones in the second quarter.