Samsung has launched its latest smartphone at an event in New York. The Galaxy S4 includes a feature that senses when your finger's hovering above the screen.

The Korean company has a larger share of the world-wide smartphone market than its biggest rival Apple.

The new features also include a dual camera function that can take two pictures at once and "smart pause" which lets users pause a video by looking away from the screen.

JK Shin is president and head of IT and mobile communications at Samsung. "We have taken technology and innovation forward to help us get closer to what matters in life, to help us live a richer, simpler and more full life" he said.

Hopes of 10 million monthly sales

The smartphone is predicted to pose a major threat to Apple and its dominance of the market. But investors have largely shrugged off the launch. Shares in Samsung were 2.3% lower in Seoul on Friday.

The company is said to be expecting sales to be as high as 10 million per month. This would largely driven by its new features, which were demonstrated in a theatrical launch event at the Radio City music hall and Times Square.

The device will go on sale next month through 327 mobile operators in 155 countries.

Watch the full launch below: