The Apple iPhone 5 is expected to make its merry way into consumer hands this year, but the big question on everyone's mind is, how well will it stand up to the Samsung Galaxy S3. The Galaxy S3 is Samsung's latest and greatest Android smartphone offering, and with reports claiming the device has already achieved a record 9 million pre-orders worldwide, the iPhone 5 is up for some serious competition.

With the ongoing battle between Apple and Samsung getting more personal, Terry Gou, the CEO of iPhone maker Foxconn, lashed out at Samsung by claiming the iPhone 5 will put the Galaxy S3 to shame, according to the China Times, which was quoted in English by Focus Taiwan on Tuesday. Gou didn't specify what exactly about the iPhone 5 will put the Galaxy S3 to shame, but we are suspecting rumors of an upgraded 4-inch Retina display with Quad Core inside could turn out to be legitimate, and if done well, it might really have what it takes to stand up to the Samsung Galaxy S3 toe to toe.

Terry Gou continued to throw words on Samsung by describing the it as a "a company with a track record of snitching on its competitors," which is reference to a price fixing defamation a few years ago.

The Galaxy S3 is gearing up to be sold through Verizon and AT&T in July, by then we will see if the device is capable of competing with Apple's iPhone in terms of sales. Many expect the device to do well, but outselling the iPhone 5 is not on the charts since it lacks the same die hard fanbase iPhones are known to have. However, if Apple fails to significantly bump the hardware specs of the iPhone 5, we doubt the most loyal of fans will step out to purchase a handset that is furlongs behind the competition.

Apart from a bigger screen with higher resolution and a quad core processor, other rumors depict the iPhone with a smaller dock connection, liquidmetal chassis, and Corning Gorilla Glass 2.0, and 3D camera, among other things.

With the iPhone 5 and Windows Phone 8 devices expected to be released close to each other, Q4 2012 should be one of the best in smartphone history. Bring it on. We're ready.