Yup. Other than the display most of the other components are top of the line in One X and One S with the Krait 4 being the one of the fastest mobile processor in the market. So guess its along expected lines!
If 4.7" is too big then they can opt for the 4.3" one with a processor matching the Tegra 3!
I wouldnt say the display is inferior. I have used both Super LCD 2 and super amoled + ever the HD versions. U win some, you lose some. Thats how I would rate them againt each other.
Super LCD 2
Pros:
Real life picture
The display is rigt on the screen and doesnt look likes its busined underneath a glass
Proper saturation
Cons:
Sun light legibility
Loss of deeper blacks
Super duper amoled ++ uber awesome HD screens(too many variations to remember them)
Pros:
Amazing depth and blacks
Superb sunlight legibility
Pics just dazzle you with their vibrancy
Cons:
Pictures look way over saturated
hurts your eyes with their over vibrancy
looses its natural colors.
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Pardon the typos, too tired right now.
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And I think S and X offer a like of flexibility where people with smaller hands dont need to forgo the extra processing power.
At the current price points, SGS3 looks grossly over priced. HTC did good this year.