Korean manufacturer was quoted as saying it will try and make the update work, but did not reveal how. There was no other information shared, but we are hoping to see an official statement pretty soon.
Late last week, Samsung had officially announced on its blog that it will not be able to update Galaxy S and Galaxy Tab due to memory issues and the size of Android 4.0 firmware along with Touchwiz UI.
Via Verge

One reply on “Samsung retracts, now reviewing possibility of Galaxy S ICS update”
Cm9 is already out for it and will be fully functional in about a month or 2.. Most ppl who acknowledge the problem know the sol. and those who dont, probably dont care…so why does it matter anyways?