Samsung Electronics Co launched a thinner and lighter version of its Galaxy tablet in its lucrative home market, trying to chip into blockbuster sales of Apple Inc's iPad.
The Galaxy Tab 10.1 inch is an upgraded version of the 7-inch introduced in October. Priced from $500 onwards in the US market, the same as the 9.7-inch iPad, it faces tough me-too competition from more than 100 devices, mostly running Google's Android operating system.
However, so far, Apple and Samsung have the market to themselves as tablets, initially viewed as Web entertainment gadget for consumers, have caught the imagination across businesses such as luxury hotels, airlines and wedding planners.
Competing products including Research In Motion's PlayBook and Motorola's Xoom have received lukewarm reviews, Hewlett Packard's TouchPad is a late entrant and Internet retailer Amazon.com Inc unveiled plans only last week to join the overcrowded market.
Apple's market-beating June-quarter sales for iPad reported on Tuesday underscore the challenge for the South Korean company. Shares in Samsung closed up 3.5 per cent, boosting the market capitalisation of Asia's most valuable technology company to about $130 billion, in a strong market for technology stocks.
Apple sold 14 million iPads in the first half of this year, compared with analysts' sales estimates of about 7.5 million units for the Galaxy Tab over 2011.
'Apple's quarterly results showed again it's indeed the strongest rival to beat. Samsung will have a tough second half due to growing competition from Apple as it is set to introduce a new iPhone,' said James Song, an analyst at Daewoo Securities.
Samsung is Apple's nearest rival in the booming mobile device industry as it leverages its cost competitiveness and access to chips and core tablet components.
It has sharply narrowed the gap with Apple in the smartphone market, but remains a distant second in the tablet market, which research firm Gartner forecasts will surge to 108 million devices next year from an estimated 70 million in 2011.
'As our smartphone business grew very fast within a very short period of time, I believe it's just a matter of time for our tablet business to improve,' J.K. Shin, head of Samsung's mobile division, told reporters.
Source : New Age
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