The Samsung Galaxy S4 price will be set for $579 for the 16GB model in the U.S.
This would make the device much cheaper than Apple's iPhone 5, even after taxes. It is also pretty close to the price the Galaxy S3 was offered for last year.
The Galaxy S4 is expected to be released by the end of April.
The device will launch for all four major carriers in the U.S. including AT&T, T-Mobile, Sprint and Verizon during the same month. These companies confirmed that they would be carrying the Galaxy S4 in press releases and over Twitter.
All four of these carriers also offer the Galaxy S4's predecessor, the Samsung Galaxy S3, and have enjoyed much success with the popularity of the smartphone.
Samsung unveiled the Galaxy S4 at a special Mobile "Unpacked" event last night. Most of the rumors that were floating around regarding it specs before the device's launch happened to be right on target.
The Galaxy S4 will come in two colors at launch: Black Mist and White Frost. It also has LTE and HSPA+ connectivity.
Other rumored specs such as the 5-inch Super AMOLED display, 13-megapixel rear camera, 2-megapixel front camera, LTE connectivity and Android 4.2.2 JellyBean are also featured on the Galaxy S4.
Various tech outlets were correct in predicting that Samsung would launch the Galaxy S4 with two different processors. The device will feature the new 1.6GHz Exynos Octa-core chip or 1.9GHz quad-core Qualcomm, depending on the market.
The hardware really was not the main star at the unveiling. The Galaxy S4 will also come with several new software perks. The first of these being "Drama Shot," which allows users to take 100 pictures in 4 seconds along with another feature called "Dual-Camera," that allows users to use both the front and back camera at the same time while making a video and video chatting.