Before the Galaxy S 4 tore up the sales charts, it was rumored that Samsung would be releasing a mini-version of the device for the more cost conscious consumer market. Those rumors were right on the money as Samsung announced such a device today.

The Galaxy S4 Mini is indeed real, and it’s said to bring “the sleek design of the Galaxy S4 in a portable chic and compact design.” Of course, it’s not only the reduced size, but the reduced cost as well that will make the S4 Mini an attractive option for consumers not interested in 5-inch smartphones that cost hundreds of dollars.

The S4 Mini is equipped with a 4.3-inch qHD Super AMOLED display, a 1.7GHz processor, 8MP back camera, 1.9MP front camera, 1.5GB of RAM and 8GB of internal memory. As expected, it will ship with Android 4.2 and supports LTE bands. It also supports many of the same software features that shipped with the Galaxy S4, like S Translator and S Health.

“Demand for the Galaxy S4 has been phenomenal since it launched in April and we hope to build on this success with the Galaxy S4 Mini,” said Simon Stanford, Vice President of IT & Mobile Division, Samsung Electronics UK & Ireland. “This new handset is the ideal smartphone companion for anyone who wants a compact device packed with innovation.”

So, when will you be able to get your hands on the S4 Mini? Samsung isn’t saying at the moment. A separate press release out of UK-based Phones 4U says the device will be out in the UK this July. There’s been nothing said regarding a U.S. release, but I wouldn’t be surprised if it launched around the same time as it does in the UK.