Samsung Roars back with its Galaxy S6

Samsung did not disappoint as the electronics giant introduced its new flagship Galaxy s6 smartphone with a curved screen and mobile payment system, called Samsung Pay. All this in an attempt to tackle their rival, US based maker of the iPhone, Apple (AAPL: Nasdaq).

Samsung introduced the Galaxy s6 and curved screen s6 Edge at the Mobile World Congress. The Korean tech giant wants to turn around its bad fortunes in a year that was dominated by iPhone.

Both the phones have a 5.1 inch screen with a 16 megapixel shooter but the Edge screen wraps around the sides of the smartphone. This is the most powerful Galaxy ever to be introduced with a new generation in design and should fare well versus the Apple iPhone.

Both phones come with wireless charging, a heartrate monitor and the capability to view apps on the Edge side screens. This is a step up from the Galaxy s5 which felt cheap in comparison. The s6 is an all metal phone, goodbye plastic. These phones offer three big upgrades, screen, camera and design. Something missed in the s5.

Samsung has had a tough year in 2014. They lost their dominant market position in China and India to low cost smartphone makers like Micromax and Xiaomi. They also lost their number one spot in shipments to Apple last year, which tied them for first place. Their cash cow mobile phone division reported five straight quarters of earnings declines as well.

The s6 is an evolutional step forward. However, it is not groundbreaking. It is a good step in the right direction and should help stabilize the company.

Samsung Pay is Unveiled

They unveiled their “mobile wallet” as well yesterday to be used in their smartphones and other devices. Unlike other wallets this one, Samsung Pay, can use magnetic strip technology to allow users to pay for items using their device. This will enable Samsung to work with 90 percent of the world’s retailers.

Samsung will roll this wallet out in Korea and the US in the third quarter of this year. When will it be available globally? No word yet. Right now, Samsung has partnered with MasterCard and Visa and looks to add other companies like American Express soon.