Samsung officially announced its much-rumored Galaxy S4 LTE-Advanced smartphone and the handset will indeed come with the latest Qualcomm Snapdragon 800 processor.

The South Korean electronics giant announced the LTE-Advanced version of its flagship smartphone on Wednesday, June 26, detailing a slew of hardware specs and advanced features that will reportedly offer network speeds that are twice as fast, while also delivering a great multimedia experience.

Korean carrier SK Telecom officially announced the launch of its LTE-Advanced wireless network, which will be the world's first LTE-A network that is publicly available. The Samsung Galaxy S4 LTE-A will be the first device to take advantage of the new technology.

"Samsung Electronics announced the GALAXY S4 LTE-A, accelerating smartphone expectations with advanced multimedia experiences and the fastest downloads, web browsing, multimedia streaming and applications loading," reads the press release. "The world's first commercially available LTE-Advanced (LTE-A) smartphone, Samsung's GALAXY S4 LTE-A combines technology innovations included in the highly acclaimed GALAXY S4 with new advanced features and twice-as-fast network speeds to produce an unparalleled multimedia experience."

"Samsung maintains a unique position for delivering LTE innovations as a provider for the parts, devices and equipment required to deliver next generation 4G LTE services," adds JK Shin, CEO and President of IT & Mobile Communications Division at Samsung Electronics. "The introduction of the GALAXY S4 LTE-A demonstrates Samsung's desire and ability to provide consumers with technological innovations that take advantage of increased network speeds to deliver richer and fuller experiences."

The new Samsung Galaxy S4 LTE-A will provide blazing speeds of up to 150Mbps, but SK Telecom aims to make the network even faster in 2014. The carrier will also offer 1080p video streaming in July, add a video shopping service in August and offer FLAC audio files via its music package.

The Samsung Galaxy S4 LTE-A will launch in Samsung's home country of South Korea and will be available in blue and red color options. While the smartphone will look just like the regular Galaxy S4 on the outside, this version will pack the highly-touted Qualcomm Snapdragon 800 processor clocked at 2.3GHz under the hood, which means it will be one of the fastest smartphones in the world.