Chalk this up as one the “anonymous sources” got right. A couple days ago, we reported on a rumored Samsung point-and-shoot camera that was based on the Galaxy S III and set to be announced at IFA 2012. Well, IFA 2012 has arrived, and lo and behold, the Samsung Galaxy Camera has been unveiled.

Samsung Galaxy Camera (EK-GC100)

The camera doesn’t resemble the Galaxy S III a closely as we were imagining, but it does bear some resemblance. The back of the device is a clean, button-less surface, with a big AMOLED screen showing you the Ice Cream Sandwich that powers the camera. The screen is the same 4.8″ high-def AMOLED panel found in the Galaxy S III.

Samsung Galaxy Camera IFA 2012

Other specs include a 21x optical zoom (even better than the rumored 10x zoom lens), a 16-megapixel sensor, 3G, 4G and Wi-Fi connectivity, and automatic backup of photos to the cloud. It will also come with a ‘Photo Wizard’ app installed on it, that will let you make minor adjustments like brightness and contrast to your photos before you transfer them elsewhere.

Samsung Galaxy Camera

Again – and this will become a familiar refrain over the course of IFA 2012 – pricing and availability are still a mystery. A couple other companies have announced Android cameras that will hit the market in September, so Samsung may try to match that release window and go toe-to-toe with the other offerings.