QUALCOMM (apparently) accidently released a 2013 product roadmap showing Android 5 (code named Key Lime Pie) being released sometime between April through June of 2013. The Samsung Galaxy S4 is supposed to be released in March of 2013 and I just can’t imaging the S4 not being capable of running the latest Android 5 soon after release.
Soooo, the question is, will the S3 run Android 5. Given that Google and Samsung have yet to make any public statements about Android 5, I certainly can’t say for sure. However, it is clear that the hardware differences between the S3 and S4 are not major see: https://www.urtech.ca/2013/02/hardware-spec-for-samsung-galaxy-s4/. While I can’t see carriers like Bell, Telus, AT&T or Sprint being keen to roll out Android 5 to S3’s, I guess that the shear volume of S3 product in the market will make it VERY hard for them to ignore loud and persistent calls for Android 5 on Galaxy S3. I would bet $20 that we see Android 5 on many S3’s before the end of 2013.