A while ago we heard rumors that Samsung is planning to launch a service called S Cloud, which would (obviously) compete with iCloud. The first concrete evidence of the service came from a surprising source - the new Galaxy Note II that Samsung unveiled at IFA (surprising, because the service is still supposed to be under wraps).
The phoneblet is running Android 4.1.1 Jelly Bean and in its settings menu, there was an S Cloud entry, as spotted by BestBoyz. Reportedly, the S Cloud option will be enabled on the Galaxy S III too once it gets up to 4.1 Jelly Bean.
S Cloud seems to integrate with Dropbox (as a reminder, you get 50GB free storage for 2-year with each Note II). For now, it looks like the data is going onto the Dropbox servers, but that is supposed to change, moving to Samsung's own servers (which would resolve the question about what happens when the 2-year Dropbox deal expires).
There's also speculations that S Cloud might come with its own email service, but there's nothing solid on that yet.
The S Cloud cloud is expected to be announced in October and should be available to tablets, computers and even Smart TVs.
Source (in German)