For the fourth consecutive quarter Samsung has posted record profits, this time a whopping $7.4 billion (£460 billion). 

This figure means Samsung’s profits have doubled from this time last year. A large part of this is down to the success of Samsung’s Galaxy range, most notably its flagship Samsung Galaxy S III, launched in May. 

Samsung, now the world’s biggest mobile phone manufacturer, didn’t publish details of how many smartphones it shipped during Q3 2012. However, Reuters puts the figures at around 58 million handsets during the three-month period, 18-20 million of which were Samsung Galaxy S IIIs. 

In contrast, Apple, which has also posted its financial reports, shipped 26.9 million iPhones in the same period. Of course, while Samsung’s report makes for better reading, there is a large caveat.

Apple manufacturer's only one smartphone, albeit with different variants available. And the iPhone 5 went on sale only on 21 September, meaning only initial sales would have contributed to the Q3 report.

Yet however you look at it, 2012 has proved a good year for Samsung. The only negative came in its memory chip sales, which dropped an alarming 28 per cent.