The new flagship phone takes some design cues from the Apple iPhone while at the same time beating the Cupertino company to the punch on high speed data.

HTC's newest phone was shown off at a press event in London on Tuesday, where the company also displayed its new TouchFLO 3D interface. Like Apple, the company is also focusing on making the mobile Internet more useful.

In addition, the HTC also gives users the option of watching YouTube videos through its own custom designed application, as well as the use of Google Maps. The device is HSDPA/HSUPA capable, meaning theoretically the device can handle 7.2Mbps of data.

Other features include a 2.8-inch display, built in camera, Bluetooth and Wi-Fi, GPS capabilities, a on-screen keyboard that can be used vertically or horizontally, and a mini-USB headphone jack.

All major European markets will see the Diamond by the end of June, expanding later to Asia in the Middle East. HTC said the North- and Latin American versions of the Diamond are expected to debut during the second half of the year.

Prices for the phones have not been announced, although HTC said that carriers should start announcing prices within the next two to three weeks.