After building the Nexus S and Galaxy Nexus, Samsung (005930) is reportedly working on a new Nexus smartphone, according to a rumor from SamMobile. The device will carry the model number GT-I9260, which places it above the original Galaxy Nexus (GT-I9250) and below the new Galaxy S III (GT-I9300) in Samsung’s lineup. According to a purported spec sheet, the new Nexus device will be equipped with the same 4.65-inch display as the Galaxy Nexus, a 1.5GHz dual-core processor, an upgraded 8-megapixel rear camera and a 1.9-megapixel front-facing camera.

SamMobile’s spec sheet also indicates that the smartphone will feature an SD card slot for expandable storage, which Google (GOOG) has omitted from its previous two Nexus smartphones.

In May, The Wall Street Journal reported that Google was interested in opening its Nexus program up to as many as five manufacturers for a complete smartphone and tablet portfolio to be available in late November. We have already seen the Nexus 7 from ASUS (2357), it is quite possible this minor Galaxy Nexus update could be another one of the five devices.