Best Buy is reportedly gearing up to reduce the Samsung Galaxy S III — this year’s hottest Android-powered smartphone — to just $50 on December 16. That’s a massive reduction to the Korean company’s most successful smartphone, and it most cases it’ll get you at least $100 off its regular retail price.

The news comes via a “trusted source” for TechnoBuffalo, who says the deal is open to all four of the big carriers in the United States — that’s AT&T, Verizon, Sprint, and T-Mobile — and as you’d expect, customers will be expected to sign up to a new two-year commitment with their chosen carrier.

The deal is sure to be popular among those planning to gift the Galaxy S III to a loved one this Christmas — despite suggestions that the Galaxy S IV could be on its way early next year. Samsung continues to support the device, with an Android 4.1.2 ‘Premium Suite’ upgrade currently making its way around Europe.

That is, of course, if the report is correct. Be sure to keep an eye on Best Buy’s website on December 16 if you’re interested.

• SourceTechnoBuffalo