Samsung posted record profits in the first quarter, driven by a surge in demand for Galaxy smartphones that helped it become the world’s largest phone-maker by sales volume.
The Korean tech giant racked up £2.75 billion net profit for the three-month period to March – double the figure for the same quarter last year.
The strong showing was fuelled by sales of the 20 million units plus-selling Samsung Galaxy S2 and the tablet-cum-handset hybrid that is the Galaxy Note, which offset slackening demand for the company’s memory chips, TVs and other homewares-cum-tech goods.
According to Strategy Analytics, Samsung sold 44.5 million phones over the course of the quarter, with Apple in second place but some way behind with sales of 35.1 million.
Perhaps unsurprisingly given that a successor to the S2 is now but weeks away from retail, Robert Yi, head of investor relations at Sammy, was bullish over the company’s prospects of repeating its feats in the coming months.
Yi stated: "We cautiously expect our earnings momentum to continue going forward, as competitiveness in our major businesses is enhanced.”
Informally dubbed the Galaxy S3, the sequel to the S2 is set to be unveiled on May 3rd.