Seoul, Sep 7 : Samsung is likely to release a budget model of its flagship smartphone Galaxy S20 in the fourth quarter of this year as the company tries to boost its mobile sales amid the pandemic. The handset, tentatively named Galaxy S20 FE, is likely to be a new addition to Samsung's flagship Galaxy S20 series that made its debut in February. "Sources said the 5G-supporting Galaxy S20 FE is expected to be launched in South Korea no later than November as local telecom operators started network compatibility tests with the device," reports Yonhap news agency. The price of the Galaxy S20 FE is estimated to be around $670 or a tad more, according to the sources. The standard Galaxy S20 was launched with a price tag of a little over $1,000. Foreign tech reviewers predicted the Galaxy S20 to have a 6.5-inch display supporting 120Hz refresh rate along with 6GB RAM and 128GB storage space. It is expected to have a triple rear camera setup. Industry officials said Samsung is trying to make up for mediocre sales of the Galaxy S20 with the launch of new budget smartphones. The Galaxy S20 FE could also help Samsung's competition with Apple Inc. when the U.S. giant launches the new iPhone 12 series later this year. /IANS