Samsung announces huge profits

Samsung has announced profits of £2.8 billion for the first three months of this year, thanks to record sales of its smartphone and tablet devices.

The Korean manufacturer is the world’s biggest smartphone maker and with the likes of the Samsung Galaxy S III and Samsung Galaxy Tab 2 also set to debut this year, Samsung’s position looks likely to strengthen.

Buoyed by sales of the Galaxy S II and Tab 10.1 tablet device, Samsung claims to have shipped up to 40 million smartphones this year already, with some analysts predicting Q2 could see a further 50 million distributed across the globe.

While Samsung has also celebrated unheralded success with the likes of the Samsung Galaxy Note and Samsung Galaxy Y, it's also enjoyed a revenue stream from an unlikely source.

Despite a court case looming between the two over patent issues, Apple pays for various Samsung components such as microchips and flash memory to use in its own iPad and iPhone devices, helping bolster the Samsung coffers.

It’s quite the love-hate relationship.

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