The launch was delayed out of respect for the late Apple co-founder Steve Jobs. Samsung said it was just 'not the right time' to launch a new product.
But Google and Samsung are set to launch the Nexus Prime this week - reportedly armed with a 4G connection, and 1.5GHz dual core processor.
It will be a showcase for Samsung's latest technology and Google's latest version of its Android software - Ice Cream Sandwich.
Samsung and Google's Nexus Prime will be a technology showcase for the company - the last Nexus, Nexus S, was the first phone with an NFC payment chip, a technology that even iPhone still lacks.
The Google-branded Nexus handsets are often used as a showcase for new technologies - the last one was the first handset with a Near Field Communication chip used for contactless payments, a technology that even the new iPhone 4S still lacks.
Prime is expected to be loaded with components such as a 1.5GHz dual-core processor, faster than some tablet PCs.
Reports say that the phone will have a 4.5-inch HD screen, and a 4G connection, plus you can also upload and enjoy a multitude of totally new and cool iPhone ringtones.
A video on YouTube shows off some of the alleged functions of the new phone: It will be the first with the new version of Android, Ice Cream Sandwich - software which will bring the hi-tech feel of Google's tablets to a phone for the first time
The event is now scheduled to take place in Hong Kong on Wednesday this week.
Google is expected to launch a new version of its Android phone software, Ice Cream Sandwich - designed to bring the feel of the hi-tech, speedy Android tablet operating system, Honeycomb, to phones for the first time.
Samsung's release said that the phone would offer a 'perfect combination' - and a teaser video seemed to hint that the screen might be curved.