(Yicai Global) Sept. 14 -- In the wake of Apple Inc.'s [NASDAQ:AAPL] new iPhone event, South Korean smartphone maker Samsung Group held a product release in Beijing and officially unveiled its Galaxy Note 8 to the Chinese market. The new handset is priced at USD1066 (CNY6,988) or more in China.

Samsung released the same product in the United States last month, priced at USD930. Apple showed off its iPhone X this week, and it will be available in 64- gigabyte and 256-gigabyte models, priced at CNY8,388 and CNY9,688, respectively, in China.

Samsung's Galaxy Note 8 has an 'infinity' display and a dual-lens camera. In terms of software, Galaxy Note 8 supports Chinese internet giant Tencent Holdings Ltd.'s [HK:0700] WeChat payment as its users can get a WeChat QR code directly through iris scanning. The phone's game center partnered with Tencent and introduced a gift package worth CNY1,500 that gamers can use on five Tencent games.

To cater to the popular shared bicycle market in China, Samsung formed a technical cooperation with Beijing Mobike Technology Co., a local bicycle-sharing company. Users can directly use the phone's camera to scan and unlock shared bicycles, without having to open the Mobike app.

Reservations for the Galaxy Note 8 began yesterday. Advanced deliveries will arrive on Sept. 28. It will officially go on sale on Sept. 29.