While the device is not expected to be called the Galaxy S III, the nickname is as good as any for the device which will be a successor to the popular Galaxy S II flagship.
In the teaser trailer, the company says: "Truly smart technology becomes a natural part of life. Where a galaxy fits perfectly into your hand, your view of the world grows ever wider as you gain the power to explore it freely and swiftly. With technology that fits in this easily, you can now standout from...everyone else."
The "everyone else" is an overlay over pictures of sheep.