The Galaxy K is similar in specs to other Galaxy S devices, with a 3.7-inch AMOLED Plus screen, a 1GHz CPU, Wi-Fi, Bluetooth, wireless tether capability, 8GB of internal storage, and support for Adobe Flash 10.1.
AMOLED Plus is a new screen design from Samsung, which is meant to remain visible in outdoor light. Although there doesn't seem to be much information about it at the time, it's rumored that the display is a small step down from Super AMOLED.
Many Galaxy S owners have already installed the leaked Froyo build. If not, they have been patiently waiting for their Android update. While it was meant for September, the update is now expected towards the end of October.
source: Samsung Hub via OLED Display