Samsung To Release New Galaxy Phone

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Samsung says it will release the third generation of its flagship. It will be called the Galaxy S. That is a bit like the Apple (NASDAQ: AAPL) iPhone 4S, at least the way it reads. Samsung, has by most measures. taken the lead in global smartphone sales, although most analysts believe its profits are very small–especially compared to Apple’s.

Samsung has sprinted by other companies in the industry. That includes Motorola, which use to be No.2 in the industry with it RAZR, just seven years ago. Also left behind are No.1 handset company Nokia (NYSE: NOK), which has now married itself to the Microsoft (NASDAQ: MSFT) and it Windows Mobile OS. The new Lumia 900 Nokia phone had an embarrassing software glitch. This product was supposed to revive its fortunes in the sector

Also in the race for a modest piece of the market are LG, HTC, and the rapidly deteriorating Research In Motion (NASDAQ: RIMM)

Unless one of the smartphone companies well back in the pack makes an unexpected move, Samsung and Apple have the market nearly to themselves. It the Galaxy S has features close to the iPhone, Apple may be pressured to release its new iPhone 5