Today ends in the letter “y”, and you know what that means: more Galaxy S III rumors! The latest scuttlebutt amongst unnamed “industry insiders” points to a 7mm profile on Samsung’s flagship device, besting even the Motorola DROID RAZR for skinny dimensions. The rumor comes from ETnews, who also reports that the unnamed sources expect the phone to launch in May, probably as an international model. The only solid news concerning a Galaxy S II successor coming from Samsung is that it won’t be showing up at Mobile World Congress, as the company is saving the good stuff for its own event at an unspecified date.

How might Samsung achieve this feat? With smaller and more efficient components, particularly the main circuit board housing the SoC and most of the other primary parts. These crucial components are reportedly 20-30% slimmer than current models (and the 8.5mm Galaxy S II is no slouch). The sources claim that the camera module, still 8 megapixels, will be identical to the Galaxy S II. This means that the mythical device would have a “bump” on the camera end, not unlike Motorola’s DROID X and RAZR models. How might this impact Samsung’s standard Galaxy design, which uses a bulge at the bottom of the phone to house the radio and speaker? Who can say. Other predicted inclusions include a 2-megapixel front camera and LTE standard. The 8MP rear camera contradicts earlier rumors pointing towards a 12-megapixel sensor.

While a 7mm smartphone is impressive no matter who’s making it, it wouldn’t be the thinnest in the world by a long shot. Both Fujitsu with its Arrows Android phone and NEC with its MEDIAS device have hit 6.7mm thin, though neither are the hardware powerhouse that the Galaxy S III is expected to be. Other rumors of varying credibility for the GSIII include a waterproof coating, a 2Ghz Exynos processor and/or 2GB of RAM, and a 4.7-inch 720p display (which seems much more likely). Samsung’s playing this one incredibly close to the vest – all we’ve seen of any device that even might be the Galaxy S III has been model numbers.