PC Magazine reports that Samsung has launched a $800k app contest for the Galaxy S4. Samsung announced the “Samsung Smart App Challenge 2013” on Monday. The company says that the purpose of the global app contest is to discover creative new applications that make use of Samsung Chord SDK.

According to a news release from Samsung, 10 winners will receive a total of $800k in prize money and the opportunity to be evaluated by Samsung Venture Investment. A break down of the prize money reveals that one first place winner will receive $200k, three second place winners will receive $100k each and six third place winners will receive $50k each.

Samsung says that this is the second time that the company has held this global app contest for android developers. The contest is open to all mobile application developers worldwide. Developers who want to participate in the contest need to sign up on the App Challenge website.

According to Won-Pyo Hong, President and Head of Samsung Electronics Media Solution Center, the app contest will improve application selection for Galaxy S4 users.

A panel of judges will determine the winning contestants. The ten winning entries will be applications that utilize group management functionality in unique and novel ways. The developers must use Samsung Chord SDK which helps them form a group with multi-devices in real-time, automatically, needing no manual processing of devices which join or exit the group.

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ZDNet says that the Galaxy S4 has an awesome five-inch screen and great battery life, but is also too expensive and has limited internal storage. Regardless, the Samsung Smart App Challenge 2013 is a great way for Samsung to market the phone and expand its application selection for users.

Are you going to take part in this contest? What would you do with your prize money if you won? Sound off in the comments section.