Samsung says the Glaxy S5 is selling faster than the S4

Samsung Electronics Co Ltd’s new Galaxy S5 smartphone should outsell its predecessor and defy predictions that the South Korean titan’s latest model will struggle in a tough market for high-end handsets, a top executive said. The world’s biggest smartphone maker has slashed prices of the S5, which rolled out globally on Friday, offered a gift pack worth $600, and more than doubled the number of initial launching countries to 125 in a bid to sustain growth in the mobile business, which generates 70 percent of its total profit. A smooth launch is crucial for Samsung, which reported its second straight quarter of profit decline earlier this month as margins in the key smartphone business come under growing pressure from cheaper Chinese rivals.