Indian mobile device company Olive Telecom has announced its own Android 2.3 Gingerbread handset, the OliveSmart V-S300, an HSPA+ smartphone with a 4.1-inch capacitive touchscreen. OEM is unclear, but the V-S300 has a 5-megapixel autofocus camera with 720p HD video support, 1GHz Snapdragon MSM8255 processor, 512MB of ROM and WiFi b/g.

There’s also a front-facing webcam, WVGA display, GPS and Bluetooth 2.1, along with HDMI and a digital compass. The whole thing is expected to measure 122 x 66 x 9.9 mm.

Release date isn’t clear, and the fact that Olive has used a screenshot of an earlier Android version than Gingerbread doesn’t exactly fill us with confidence, but we’ll hold judgement until the smartphone emerges into the wild. Olive had previous promised an Android 2.2 device in the first week of March.

[Thanks Fransiscus!]