In the past few days we have heard a lot about the next Galaxy S smartphone from Samsung with a number of alleged leaked images of the upcoming device. There has even been talk the Galaxy S3 could be released around the same time as the iPhone 5, and now we have news of a Samsung executive teasing the specs for the device with regards to its processor.

It seems Samsung are looking to phase out Qualcomm processors from its hardware range, so as SlashGear are reporting will be less dependent on other companies for components. This information has come via senior execs supposedly letting slip details in Korea, so the company hasn’t made it official yet.

It is being alleged that a Samsung executive has said that the company is paying a lot of money to Qualcomm for its components, but “Qualcomm is gradually losing its edge”. The upcoming Galaxy S III is being claimed will come running the new Samsung Exynos 5 processor, and the new component is being developed by Samsung themselves.

The quad core chip set is built using the 32nm process and is thought to have both WCDMA and LTE radios on-board, and the insider is claiming that the Exynos 5 is ready to go so falls in with earlier rumours that the handset has entered the production stage ahead of release.

With the upcoming Exynos 5 processor having a built-in LTE radio, it may give Samsung an advantage over the likes of Apple, as having separate chipsets can mean more battery drain. Using a processor with an all in one design will help Samsung to achieve longer lasting smartphone batteries along with a slimmer form factor.

Leading up to any official announcements about the Galaxy S III we are likely to hear more rumours and speculation about the device, and hopefully it won’t be too much longer before we get a release date.