It is in this bleak situation, Samsung has unveiled a new Galaxy Note 5 phablet and a larger version of its curved screen S6 Edge smartphone, Galaxy S6 Edge+, on Thursday and tried to add fresh life to its sagging handset business.

Things have not been going smoothly for the South Korean Electronics Giant lately. It remains the top smartphone maker in the world but its market share has been eroded continuously and particularly in the second quarter when it much touted S6 models were launched and was beaten by the upscale iPhones and also cheaper alternatives from Chinese rivals like Huawei Technologies Co. Ltd.

Samsung has taken the opposition by horns and has hastened its Note launch that it usually does in early September. It has also made price cuts on its Galaxy S6 range.

smaung galaxy note 5 and galaxy s6 edge+

Samsung has also made several hardware changes for its next iteration of phablets. The Galaxy Note 5 boasts a more powerful processor. The screen size of S6 Edge+ has also been enhanced from 5.1 inches to 5.7 inches.

The two devices are powered by Samsung’s Exynos chips. Most of the earlier handsets of Samsung were powered by Qualcomm Inc chips and has now decided to use its in-house processors for its models. The phones will hit shelves in US and Canada on August 21. Galaxy S6 Edge+ is available in two versions-  “Black Sapphire” and “Gold Platinum,” in the U.S. market. Galaxy Note 5 is available as “Black Sapphire” and “White Pearl”. Note 5 will be available in either 32 or 64 GB of storage.

Both the devices will support mobile payment service Samsung Pay, and has been scheduled for launch on August 20 in South Korea. The service will be launched on September 28th in the US. Samsung plans to expand this service to UK, China and Spain but has not specified any date for the launch of the service in these countries. Samsung Pay will enable the users to conduct financial transactions by having phones send signals to existing magnetic stripe card readers. It will offer greater storage space as compared to Apple Pay Service which requires the shopkeepers to install compatible equipment. Software updates in August will make Samsung Pay available on Galaxy S6 and S6 Edge.

Source: Samsung.