City AM: Samsung announces launch of new Galaxy smartphone model

SAMSUNG Electronics said yesterday it would unveil the third generation of its flagship smartphone Galaxy S in London on 3 May, banking on a heavy marketing campaign in the lead up to this summer’s Olympics.

Samsung became the world’s top smartphone maker last year on the back of strong sales of its Galaxy lineup. More than 40m Galaxy smartphones have been sold since the first model was launched in June 2010. The Galaxy S II followed in April 2011, outselling the iPhone 4S in the second half of the year.

The company estimated earlier this month that its first-quarter operating profit would hit a record 5.8 trillion Korean won (£3.2bn) thanks to the success of the series and a poll showed that the company had toppled Nokia from its 14-year leadership of the global mobile phone market.

Samsung has a sponsorship deal with the International Olympics Committee, which is due to run out in 2016, and has said its market share in China doubled following the 2008 Beijing Games.

By Jessica Abrahams. Originally published by City AM, 17th April 2012. View here.

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