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Samsung Galaxy S3 to drive record profits for phone-maker

Samsung Galaxy S3 to drive record profits for phone-maker

Samsung anticipates record profits for the third quarter, in a major fillip for the gadget-maker after its high profile courtroom reverse against Apple.

The South Korean company forecasts profits of £4.5 billion for the three-month period to September. That's double the year-ago quarter and well above analysts’ forecasts.

samsung galaxy s3 red

The better-than-expected showing was likely driven by huge demand for the Samsung Galaxy S3, which has racked up 20 million sales since dropping back in May, as well as strong sales of TVs.

The announcement comes as Samsung is embroiled in a long-running legal wrangle with Apple that saw Samsung ordered to pay $1 billion to its rival after a US court determined it had infringed on Apple-held patents.

Apple is now seeking an increase in the damages of an extra $707 million, prompting Samsung to add the iPhone 5 to a separate legal action it is pursuing against the Cupertino-based purveyor of positional goods.

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