Samsung posts £4.59 billion profit, in part due to Galaxy S3

Strong smartphone sales sees the company's profits soar

Just after Apple posted their own quarterly earnings, Samsung has come forward with their own showing huge growth and some impressive sales thanks to the Galaxy S3

Samsung has announced a quarterly profit of around £4.59 billion, this figure is double that of last year and is in part down to the huge success of their Galaxy smartphones including the Galaxy S3 and the Galaxy Note 2.

Not only was it a record quarter for the company but Samsung also managed to gain nearly two thirds of their profits through smartphone sales as the company is believed to have already shipped 18-20 million Galaxy S3 smarpthones.

This golden age could be coming to an end however as Reuters predicts that the company's profits will slow after Christmas thanks to stagnent TV sales and the slowing of the smartphone market.

Recently the company won a victory over its main smartphone and tablet rival Apple after a UK judge ruled that not only do Samsung's products not infringe on Apple's designs but also that the Apple should publish a number of ads stating as such in UK publications.

The Californian company has also been ordered to post a link to this statement on its homepage, somewhat dampening its recent launch of the iPad Mini and the new MacBook Pro with Retina Display.

Samsung has recently launched its update to the Galaxy Note with the Galaxy Note 2 sporting a larger 5.5-inch display as well as the new design philosophy that was first started through the Samsung Galaxy S3.

Source: Reuters