With Mobile World Congress less than a month away, speculation surrounding the launch of Samsung’s new flagship device, the Galaxy S III, has begun to circulate.

According to Samsung’s SVP of Marketing, Younghee Lee, the company is “still reviewing” when the company will unveil the next model in its super-successful range of Galaxy S smartphones, leaving the company open to introduce the device in Barcelona at the mobile-focused event at the end of February.

Sammyhub shares a recording of the earnings call in which Mrs. Lee responds to questions surrounding the device’s launch in regards to competing with Apple’s next-generation iPhone, which is expected to launch in the Summer:

Earlier reports suggested that Samsung would delay the launch the Galaxy S III at MWC, stating:

It’s unclear when or where the new announcement will be, but we’re told that it’ll still be out there “before summer.”

This aligns with information we have been hearing but Samsung may not have chosen to delay the product’s unveiling, moving ahea

Sources have told us that whilst the company continues to enjoy success with its existing smartphone portfolio, the company decided that it would be more beneficial to unveil its latest flagship handset at a dedicated launch event post-MWC.

With the Samsung Galaxy S II continuing to create significant amounts of buzz, sources have indicated that the company does not want to cannibalise sales of a device that is performing well against its competition. The company’s anti-Apple advertisements also show that Samsung is not afraid of pushing its existing smartphone portfolio.

The South Korean electronics giant is said to have shipped 36.5 million smartphones last quarter, helping deliver record fourth quarter operating profits of 5.3 trillion won ($4.72 billion), a 76% rise year on year.

Given Samsung’s ambivalence in regards to the launch, things could be set to change. Analysts have predicted that Apple’s troubled iPhone 4S launch in China could affect iPhones sales in the first quarter of 2012, better positioning Samsung to continue pushing its Galaxy S II and Galaxy Nexus smartphones.