Samsung has reported global revenue of $117.8 billion for the year ending on October 31st, exceeding the sales of previous leader Hewlett Packard by $3.2 billion.

According to the Financial Times, it is expected to do the same in 2010, as its projected sales figures for the year are forecast at $127 bilion, compared to HP’s $120 billion.

Samsung is a global leader in memory manufacture and LCD screens, and is the world’s second largest mobile phone handset vendor.