Samsung Unwraps Latest Galaxy Rival to iPhone

Samsung Electronics unveiled a new top-of-the-range Galaxy smartphone on Thursday, updating the most direct rival to Apple’s iPhone with a larger touch screen and more powerful processor.

The South Korean technology group, which overtook Finnish company Nokia as the world’s biggest cellphone maker earlier this year, said the SIII model would go on sale in some markets in late May and around the world from June.

Last week, Samsung reported a record $5.2 billion quarterly profit, boosted by Galaxy SII smartphones whose sales outstripped the iPhone.

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