Judging from the strangely complete specs and believable photos leaked from a Russian retailer, it may well be. Called the S8000, and carrying an OLED screen and 5-megapixel camera, it's a (theoretical) powerhouse.
Whether or not this leak is real, it hasn't come out of the blue. In February, Samsung promised "more than three" Android handsets by the end of the year, so for one to peek its head out a few months later is within the realm of possibility. Anyway, AndroidGuys grabbed the specs before the product page was pulled: