Samsung is planning to launch a new model of  Samsung Galaxy S4 equipped with advanced 4G LTE technology, which is capable of transmitting data two times faster than the average speed of smartphones, according to report from Miyoung Kim of Reuters.

samsung galaxy s4

Samsung Galaxy S4 Launching In Korea

J.K. Shin, co-executive at Samsung, reports that the new Samsung Galaxy S4 with the advanced 4G LTE technology would be available in South Korea this month.

According to Shin, the management of Samsung is in discussions with several telecommunications providers in other countries to carry its latest Samsung Galaxy S4, but he refused to provide the names of the carriers.

Shin said, “We’ll be the first with the commercial launch of the advanced 4G version of the smartphone.”

The South Korean electronics manufacturer stated that the new Samsung Galaxy S4 is powered by chips from Qualcomm, and it has the ability to download a movie in slightly more than a minute compared with the 3 minute download speed of the conventional 4G.

Wall Street’s Forecast for Galaxy S4

Wall Street analysts recently lowered their sales forecast for sales of the Galaxy S4 by as much as 30 percent, citing that industry data indicated saturation in the high-end smartphone market. Despite the reduced estimates, Shin expressed confidence on the sales performance of the product.

Shin said, “S4 sales remain strong. It’s selling far stronger than the (Galaxy) S III … and the new LTE-Advanced (4G) phone will be another addition to our high-end segment offerings that ensure healthy profit margins.” The executive did not provide any sales estimate for the Galaxy S4 devices.

“As operators seek to provide more data-centric mobile services, I think this will become mainstream 4G technology globally in the coming years,” added Shin.

Tablet Sales Increase in USA

Furthermore, Shin stated that sales of Samsung tablets in the United States increased by more than 3.3 times since the launching of its boutique shops at Best Buy in April.  Samsung is planning to expand its sales strategy in Britain and Latin America. Shin did not provide the names of the target retailers.

Samsung generates its largest revenue from its mobile devices unit.  The total stock value of the company declined $20 billion since analysts cut their sales estimates for the Galaxy S4.  The South Korean Electronics manufactures has $195 billion market capitalization.