Looking for the best competitor to Samsung Galaxy S3? HTC One X is the first device that comes instantly to mind. Selling as an AT&T exclusive, the One X is priced similarly (on contract) to the Galaxy S3. However, the carrier is gearing up to slash its HTC One X on-contract price to just $99.

AT&T confirmed on Friday that it plans to undercut HTC One X's price in half to $99. The price change will become effective this Sunday, July 29. Radio Shack has also confirmed that it will sell the One X for $99, starting July 29, on a two-year service agreement with the carrier.

The price drop comes after similar reports on Friday morning, when a newly registered member at XDA Developers forum leaked an image from company's internal website. Going online by the name of "surflamj", the user claimed to be an AT&T sales representative. Showing the $99 price tag for the One X, the user notes that this amount is the new price point, rather than a special deal.

The valid reason behind the surprising price cut seems to be the overwhelming demand for Samsung's latest flagship smartphone - the Galaxy S3. In the recent past, the Korean tech giant reported selling 10 million Galaxy S3 units. Apparently, users are flocking towards the Galaxy S3, causing trouble for HTC in smartphone sales.

Spec-wise, the One X is almost identical to the Galaxy S3. It sports a whopping 4.7-inch HD display, a dual-core 1.5 GHz Snapdragon S4 processor, 1GB of RAM, 16GB storage, and an 8-megapixel main camera. It runs on the Android 4.0 Ice Cream Sandwich platform with Dr. Dre's Beats Audio treatment. Additionally, HTC has confirmed a Jelly Bean update for the device.

After the price cut, HTC One X will cost half of the mighty Galaxy S3, making it a steal for Android fans. This move is expected to lure in AT&T customers who are thinking of purchasing the Galaxy S3.