Samsung unveils smaller, cheaper Galaxy S3

Samsung Galaxy S III

Samsung Electronics Co. has unveiled a smaller and cheaper version of the Galaxy S3 smartphone with the same screen size as the iPhone 5.

Samsung Galaxy S3 and Samsung Galaxy S3 mini

Samsung says the Galaxy S3 mini features a screen measuring 4 inches diagonally, smaller than the Galaxy S III's 4.8 inch display but the same as Apple's iPhone 5, which was Apple's first upgrade of the iPhone screen size.

Samsung said the mini will be launched in Europe later this month but kept mum on schedules for other countries.

Samsung's German mobile shop lists the mini's price at 399 euros ($516) versus 550 euros ($711) for the cheapest S III.

The mini is powered by the latest version of Android software but does not support faster fourth-generation wireless networks.

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