The S20 FE includes a number of features found on the premium device that was first released earlier this year, such as 5G connectivity and high-powered cameras.
Samsung said prices will start at £599, several hundred pounds less than the original S20.
The new device will also include a large battery, a 6.5-inch Full HD+ Super AMOLED Infinity-O display and triple rear-camera system traditionally seen on Samsung’s flagship phones.
The technology giant’s corporate vice president for UK and Ireland, Conor Pierce, said the aim of the new device was to bring more of its key technologies to a wider audience.
“We are constantly speaking to our customers and know there is demand for a smartphone that takes stunning photos and can perform all day, at a competitive price point,” he said.
“Galaxy S20 FE is an extension of the Galaxy S20 family, designed to bring flagship features to a wider audience.
“Equipped with 5G, we have future-proofed the device so our customers can enjoy the incredible innovation we know this technology will bring to our everyday lives.”
The device follows a number of other high-profile launches by the South Korean firm, which announced its Galaxy Note 20 phablet in August and then a new foldable, the Galaxy Z Fold 2, last month.
The S20 FE will be released on October 2, with the 4G version costing £599 and the 5G variant priced at £699, Samsung confirmed.
