Samsung refreshes iPhone-challenging Galaxy line

The Galaxy line has been Samsung’s chief weapon in the smartphone fight, and it has succeeded in making it a recognizable brand while competitors like Taiwan’s HTC Corp. and Korean rival LG have stumbled. Samsung has sold 100 million Galaxy S phones since they first came out in 2010. That’s still well below the 268 million iPhones Apple has sold in the same period, but Samsung’s sales rate is catching up.

Research firm Strategy Analytics said the Galaxy S III overtook Apple’s iPhone 4S as the world’s best-selling smartphone for the first time in the third quarter of last year, as Apple fans were holding off for the iPhone 5. The iPhone 5 took back the crown in the fourth quarter.

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Stocks: Worries over Cyprus bailout deal

The Federal Reserve’s Open Market Committee will hold a two-day meeting on Tuesday and Wednesday. It will culminate in an announcement on interest rates and a closely-watched press conference on Wednesday afternoon.

At its last meeting, the Fed held rates at record lows and said it would continue buying $85 billion in Treasuries and mortgage-backed securities each month to bolster the economy.

The central bank is expected to maintain its gloomy forecast for this year. Investors will be looking for any comments on how government spending cuts could impact economic growth later this year.


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