Samsung Unloads on Apple: Tech Weekly

NEW YORK ( TheStreet) -- Samsung grabbed the spotlight this week by unveiling the Galaxy S 4 phone, putting pressure on main competitor Apple ( AAPL).

The S 4, Samsung's flagship phone, is only 7.9 mm thick and weighs 130 grams. That's thinner than the S 3, which is 8.6 mm thick and weighs 133 grams. The S 4 has a 5-inch screen, compared with the S 3's 4.8-inch display.

Samsung Galaxy S 4: Disaster 101

The S 4 will run version 4.2.2 of Google's ( GOOG) Android operating system, codenamed Jelly Bean. The phone comes with either a 1.9-GHz quad-core processor or a 1.6-GHz octa-core processor, depending on the country.

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J.K. Shin, president of Samsung's mobile-communications division, described the new phone as "a life companion for a simpler life," and said it will be available on 327 mobile operators in 155 countries by the end of April. AT&T ( T) quickly announced it will carry the device, as did Sprint ( S). No pricing was announced for the phone.

Coincidentally, Google said Andy Rubin, the chief of Android, of which Samsung is a major partner, would be stepping down. Sundar Pichai, who leads the Chrome and Apps teams, will take over. "Andy's decided it's time to hand over the reins and start a new chapter at Google," Google CEO Larry Page wrote in a letter.

Though Samsung isn't publicly traded in the U.S., Google slipped this week, falling 2.1% to finish at $814.30.

Unlike Samsung, Apple ( AAPL) received nothing but criticism from Wall Street.

Jefferies analyst Peter Misek cut his estimates on Apple earlier in the week. He forecasts that Apple will earn $9.52 a share on $41.34 billion in revenue in the current quarter, down from $10.04 and $42.69 billion. Misek cut his price target to $420 from $500 and maintained his "hold" rating.

UBS analyst Steven Milunovich lowered his estimates to $9.66 a share from $10.05, and reduced his estimate on iPhone shipments by 1.5 million to 35.5 million. He cut iPhone numbers by 1 million to 28.5 million in the next quarter. The price target went to $550 from $600, but the "buy" rating remains unchanged.

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