Ways to instantiate a Java String

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What is the difference between these two ways of instantiating a Java String?

String x = "y";

String x = new String("y");
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Basic difference is that the first example will be in the string pool and the second in the object memory.

Also use the String x = new String("y"); is slower than the other method.

Check out this link to understand the string pool Performance in creating strings in Java

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