Are you in the market for a different smart phone operating system? Sick of the mainstream players? Perhaps you have a fondness for immature OSes that are only supported by one manufacturer?

Well, I’d initially recommend the Wave — Samsung’s original Bada-powered smartphone — but I know you’re a bit more budget minded than that. Who wants Super-AMOLED anyway?

Samsung hear ya, buddy, as today they announced their third-ish (fourth, I suppose) Bada-powered phone: the entry-level S7320E Wave 723 (henceforth known as just the Wave 723).

The most obvious feature is the built-in leather case, but other than that, the phone rocks a 3.2″ WQVGA (240×400) TFT display, 5MP camera with LED flash and QVGA (read: gross) video recording, Bluetooth 3.0, WiFi N, GPS, quad-band 2G, dual-band 3G, 3.5mm headphone jack, 90MB on-board storage, plus a MicroSD slot, and will measure just 109.5 x 53.9 x 11.8 mm.

The phone should be out in September, and, while pricing hasn’t yet been announced, expect cheap.

Check some more pics in the gallery, below.