Tonight, Samsung Mobile and T-Mobile announced the Exhibit II 4G, a new 4G smartphone aimed at the budget-conscious subscriber. The Exhibit II 4G will be the first no-annual-contract 4G smartphone sold at most Walmart stores, and is set for an October 27th release.

The budget smartphone will also come to T-Mobile retail stores November 2nd, offered at the low price of $29.99 after a $50.00 mail-in rebate with a two-year agreement and qualifying plan. The Exhibit II 4G will also be available for $199.99 off contract.

Here are some of the specs the Exhibit II 4G will be offering this fall:

  • Android 2.3 Gingerbread
  • 3.7" WVGA TFT display
  • Qualcomm Snapdragon Processor at 1GHz
  • 3MP rear camera with flash
  • Wi-Fi connectivity

For subscribers interested in finding a budget Android phone, the Exhibit II 4G is a good option. It may not bring revolutionary specs to the budget phone arena, but its 4G capabilities are certainly appealing for the money-conscious user.