New Delhi, Jan 3 (IANS): In a bid to take on Chinese smartphone manufacturers in New Year, Samsung India is set to launch a new "Galaxy On" device in the third week of January.

Industry sources told IANS that the latest device will be priced at around Rs 15,000 - a key mid-price segment in the highly-competitive Indian market.

"Galaxy On" will come in two variants -- both with 4GB RAM, the sources added.

The new device is expected to be an Amazon India exclusive, with a focus on design, performance and photography elements.

In 2017, Samsung India launched "Galaxy On Max" for Rs 16,900.

The device was equipped with a best-in-class camera tailor-made for low-light photography, enabled by its flagship f/1.7 aperture, the company said in a statement.

With 5.7-inch full HD display, the device was powered by a 2.39GHZ, 1.69GHz Octa-Core processor, 4GB RAM and has 32GB internal memory expandable up to 256GB via micro-SD card.

"Galaxy On Max" sports 13MP rear and front camera with LED flash.

With the new "Galaxy On", Samsung will look to strengthen its mid-range segment where it has witnessed strong competition from Chinese brands.

After registering a 27 per cent growth in mobile business revenue for the financial year 2016-17 -- touching a mammoth Rs 34,300 crore -- Samsung has become the undisputed leader in the highly competitive and price-sensitive domestic smartphone market.

With this kind of growth, Samsung has eclipsed the sales of key Chinese brands such as Xiaomi, OPPO, Vivo, Lenovo and even the Cupertino-based giant Apple.

The South Korean giant had 60 per cent market share (by value) in the premium segment for the August-September-October period, according to German market research firm GfK.

For the overall smartphone market, Samsung had over 45 per cent market share (by value) from October to December 2017.

"Every third smartphone sold in India is a Galaxy J series smartphone," the company said.