Samsung became the world's top smartphone maker last year on the back of strong sales of Galaxy lineups and the latest edition comes after it released Galaxy S II in late April last year.
The South Korean firm sold over 40 million Galaxy smartphones since the model was released in June 2010.
Samsung, which dominates in the top end of smartphone market along with Apple Inc, estimated earlier this month that its first-quarter operating profit would hit a record 5.8 trillion Korean won thanks to strong sales of Galaxy series smartphones.
Its current sponsorship deal with the International Olympics Committee runs out in 2016. It has said its market share in China doubled after the 2008 Beijing Olympics.
It was reported earler this week that Samsung Electronics Co, Apple's biggest competitor in the market for iPad-sized tablet computers, is updating its line to include a feature that lets a tablet act as a universal remote control for an entertainment center.
The storage space on the new Galaxy Tab 2 will also be expandable with small memory cards. The tablets will come in two sizes. The 7-inch version will cost $250 and goes on sale April 22. The 10-inch version will cost $400 and goes on sale May 13.