Developing

Samsung Reveals New iPhone Rival Galaxy SIII

Gadget manufacturer Samsung Electronics has unveiled a new smartphone in its battle against arch rival Apple for supremacy in the highly lucrative mobile phone market.

The Galaxy SIII, which replaces the hugely popular Galaxy SII, has a larger 4.8in touch screen, an eight megapixel camera and will use the latest version of Google's Android software - known as Ice Cream Sandwich.

The new model will be powered by Samsung's quad-core microprocessor, which the company hopes will also be used in handsets made by HTC and Motorola, as well as
Apple , its biggest customer for components.

The Quad chip technology enables more tasks in a shorter period of time. For example, streaming video can run on one core while the other cores update applications, connect to the web and scan virus-check, simultaneously.

The flagship mobile will also features voice and facial recognition technology.

The South Korean technology giant, which overtook Finnish company Nokia as the world's biggest mobile phone manufacturer earlier in 2012, said the new model would go on sale in some European markets in late May and around the world from June.

Samsung shares hit an all-time high after its first-quarter results, pushing its market value to $190bn (£117bn), 11 times that of Japanese rival Sony, though still only a third of Apple's, the world's most valuable company.

Apple and Samsung are locked in a global patent dispute over the design and technology of mobile devices.

A US court has ordered the companies to hold settlement talks on May 21 and 22, which could set a precedent for other cases around the world.