In the midst of the busiest shopping season of the year, online retailer Amazon has drastically dropped the price of Samsung’s Galaxy S3. The Korea-based manufacturer’s third-generation Galaxy S smartphone has become one of the most popular devices of 2012, and now users can get their hands on the 4.8-inch device at a discounted price.

According to Amazon Wireless, the Sprint version of Samsung’s Galaxy S3 is listed at a price of $699.99. But the current price has been lowered to $49.99 for Sprint network subscribers with a two-year contract. This cost pertains to the white or blue 16GB variant with 4G LTE connectivity, and users have the option of purchasing it through an individual account or family account.

Verizon is offering a similar deal through Amazon Wireless, with the Galaxy S3 selling for $59.99 marked down from $699.99. As with Sprint’s discount, Verizon users can also buy the smartphone through a family or individual account. This offering is only valid for the blue and white versions of the 16GB edition of the Galaxy S3, just like Sprint’s deal.

AT&T users shouldn’t feel left out—they’ll get a discount on the Galaxy S3 also. While AT&T customers will have to pay a slightly higher price, the deal falls into a similar price range. The Galaxy S3 is available for $79.99 on a two-year contract for AT&T subscribers, but the white version of the device is currently sold out. Just like the sale offered through the previously mentioned carriers, this price cut applies to the 16GB edition of AT&T’s Galaxy S3. Although the white variant is out of stock, users can still purchase the blue and red versions of the smartphone.

Each of these offerings is significantly cheaper than purchasing the phone directly from a carrier. Buying the 16GB version of Samsung’s Galaxy S3 via Verizon, AT&T or Sprint would cost at least $199.99. This means that Sprint users are saving $150 though Amazon Wireless, Verizon subscribers are saving $140, and AT&T customers are saving about $120.

Although rumors have suggested that Samsung may be working on its “next big thing” in the Galaxy S line, figures have shown that the current-generation Galaxy S3 is the top-selling smartphone worldwide. In early November, research firm Strategy Analytics revealed that the Galaxy S3 alone accounted for 10.7 percent of the global smartphone market share as of Q3 2012. Apple’s iPhone 4S came in second at 9.7 percent, but the company’s recently released iPhone 5 only held 3.6 percent of the global market share.

These figures indicated that Samsung sold 18 million units of its Galaxy S3 in the third quarter, which is a significant jump from the 5.4 million it sold in the previous quarter.

“Samsung’s Galaxy S3 has proven widely popular with consumers and operators in North America, Europe and Asia,” Strategy Analytics executive director Neil Mawson said in a statement.

The Galaxy S3 got off to a strong start following its spring launch, pushing Samsung to post a record-breaking third quarter operating profit of $7.4 billion from July through September. CNET also crowned the Galaxy S3 as the best gadget of 2012.

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