It is a very important week for Samsung, the Korean company, which recently turned the world's biggest phone maker. Samsung has tripled smartphone shipments in the last year, and its Galaxy S3 flagship phone is expected to be yet another smashing hit for the company.

Samsung Mobile Unpacked kicks off on Thursday, May 3, in London, at 7p.m. GMT/2pm ET. The big event will mark the highly-anticipated unveiling of the Samsung Galaxy S3, which is expected to pose a threat to the HTC One X, Nokia Lumia 900 and Apple's iPhone 4S (if not the upcoming iPhone 5). The big launch is finally here, and it will put all rumors and speculation to rest.

For those who cannot attend the event at the Earls Court Olympic venue, Samsung is offering a live stream of the event via its Facebook page and the dedicated Web site. In addition, you can also watch the live stream of the event on your Android smartphone or tablet, courtesy of the Samsung Unpacked app.

Along with Apple's upcoming iPhone 5, the Samsung Galaxy S3 is the most highly anticipated smartphone of the year. Samsung's previous iterations of Galaxy phones enjoyed huge success, and the third-generation Galaxy phone is expected to be even better and more popular.

There has been a great amount of rumors, speculation, leaked photos and videos ahead of the big launch, as the world swarmed in eager anticipation. Samsung confirmed that its new Galaxy S3 flagship phone will rock a quad-core Exynos 4 Quad processor, but there are still many unconfirmed rumors regarding other specs.

The Samsung Galaxy S3 is expected to sport a larger display (4.6/4.8-inch, according to rumors), a better camera (8/12-megapixel), Android 4.0 Ice Cream Sandwich, LTE (long term evolution) connectivity and many other exciting features.

Meanwhile, the big event in London is expected to unveil not only the Galaxy S3, but also the S-Cloud, Samsung's own cloud-based storage service to rival Apple's iCloud. According to Maeli Business, the S-Cloud is expected to grant access to popular TV shows, music and movies, across both free and paid content schemes. It is not clear at this time whether the service is free or chargeable. The S-Cloud is expected to offer more than 5GB of free storage capacity.

(reported by Alexandra Burlacu, edited by Surojit Chatterjee)