Apple may have been first to introduce multi-touch to the masses with its iPhone and iPod Touch, but others are jumping on the “touch” bandwagon hoping to come up with an “iPhone killer” of sorts. Today Samsung Electronics unveiled the Europe-bound SGH-F490, a rich multimedia mobile phone featuring a 3.2-inch 262,000 color touch-screen and no hardware keypad.

Unlike the iPhone, the F490 recognizes just one tap at a time and offers a mere 130MB of internal memory – though it has a microSD card slot for storage expansion. Samsung’s new smartphone has an on-board 5 megapixel camera capable of shooting stills and video and supports full screen browsing in both portrait and landscape modes. Furthermore, it supports GSM/EDGE connections on the 900, 1800, and 1900MHz bands, and UMTS/HSDPA networks that use the European 2100MHz band.

The F490 will be available in some European countries from late January at a whopping 530 Euros (about $780), with US and Asian markets to follow soon after.