The wait for Samsung Epic 4G is almost over. Sprint announced late Wednesday evening that its second 4G smartphone will be available on August 31 for $249.99 with a two-year contract and after a $100 mail-in rebate. The carrier will take preorders starting August 13 through an online reservation process.

On Friday, you can head over to Sprint’s dedicated Epic 4G page to reserve a phone for purchase, while supplies last. Customers can then pick up their phones on August 31 and must complete their purchase by September 1, 6 p.m., local time, otherwise you lose your reservation. The will also be sold at Best Buy, Radio Shack, and Walmart stores, but no word yet on whether these retailers will take preorders.

As part of Samsung’s Galaxy S series, the Epic 4G features a 4-inch Super AMOLED touch screen, 1GHz Hummingbird processor, and a 5-megapixel camera with HD video capture. Unlike the others, however, the Epic offers a slide-out QWERTY keyboard, front-facing camera for video chats, and of course, 4G. You’ll also be able to use the smartphone as a mobile hotspot (3G or 4G) for up to five devices.

Users can capture images and HD videos (720p) via the 5MP camera or camcorder with autofocus, power LED flash and 4x digital zoom. The phone also supports a VGA front-facing camera for video-chatting and more. Its Mobile Hotspot capability allows users to share 3G or 4G experience on up to five Wi-Fi enabled devices. The phone also runs on a 1500 mAH removable battery, and features visual voicemail and Wi-Fi b/g/n.

Entertainment buffs will have to wait for some more time as the Samsung Media Hub will soon be releasing on this handset. With this integration, the device is claimed to be the only 4G smartphone to feature a video store alongside movies and TV shows for purchase or rental. In the near future, the handset will also allow sharing of user-generated video content with friends and family through the AllShare service. This feature will wirelessly share stored music, pictures and HD video to other DLNA certified home electronics like HDTVs, monitors, digital cameras, printers and more.

Specifications for the Samsung Epic 4G include:
* Samsung 1 GHz Cortex A8 Hummingbird processor
* 4 inch Super AMOLED capacitive display
* 3G/4G wireless capability with WiFi hotspot support for 5 devices
* Google Android 2.1 (Samsung said 2.2 will be coming in the future)
* 5 megapixel camera
* Bluetooth 2.1
* 802.11 b/g/n WiFi
* Integrated GPS receiver
* microSD card slot
* 1 GB ROM and 512MB RAM
* 1500 mAh Li-ion battery
* Dimensions of 4.9 x 2.54 x 0.56 inches and 5.46 ounces