Samsung unveils new jumbo smartphone

Samsung's product presentations might draw less attention than Apple's keynotes. But why kick up a fuss if things are running smoothly? The South Koreans' mobile profits jumped almost 50 percent year-on-year in the first half of 2016. And what's more: they've just unveiled a promising addition to their mobile family.

The Galaxy Note 7 is set to hit the markets on August 19. The jumbo phone comes with a 5.7-inch curved screen and the usual hardware improvements. But the real eyecatcher - in the truest sense of the word - is its iris camera, which scans users' eyes to unlock the device. It took Samsung five years to develop the underlying technology.

Granted, Samsung's iris scanner phone won't be the first on the mass market. Microsoft beat them to it and pioneered a similar technology in its Lumia 950 model. But it's unlikely the US company will assume the smartphone throne any time soon - its market share recently fell under 1 percent. Samsung's is almost 25 percent.

Apple is Samsung's biggest competitor on the smartphone market. Its iPhone 6 series proved hugely popular, selling over 10 million times in the first three days after its release. The California-based firm is expected to announce new models in the coming weeks to open the next round in the race for smartphone glory.

…and Samsung is entering it with considerable tailwind. Sales of its flagship model Galaxy S7 have been soaring - a success story the South Koreans are now hoping to continue with their new model.