Samsung Electronics launched the global sales of its latest phablet offering. The Galaxy Note 3 smartphone was introduced in Seoul on Wednesday and was scheduled to be released in 140 countries by next month. The phablet has a 5.7-inch screen. Without a plan, the Samsung Galaxy Note 3 had a price tag of USD 990 in South Korea.

Analysts interviewed by Reuters said the market for phablets was good for the medium-term. However, they said the higher cost and the popularity of more portable smartphones would prevent consumers from being too interested in acquiring phablets. Singapore-based research company Canalys said smartphones that have 5.1 to 6 inch screens would comprise 6% of the market this year.

Samsung posted revenues of KRW 57.46 trillion or USD 51 billion in the second quarter this year, representing an increase from the previous quarter. The company's operating profit for the second quarter also increased to KRW 9.53 trillion or USD 8.5 billion.