LONDON/HELSINKI - Samsung Electronics unveiled a new top-of-the-range Galaxy smartphone in London 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 new Galaxy 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 smartphone range whose sales outstripped the iPhone.

Samsung sold around 45 million smartphones in the first quarter and contributed most of its operating profit.

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