Samsung record profits bolstered by smartphone sales

South Korean firm posts record profits as smartphone division continues to thrive
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Samsung has achieved record quarterly profits as a result of the increasingly growing demand for the firm's smartphones.

The world's leading smartphone maker posted a net profit of 7.15th won (£4.2bn) during the opening quarter of the year, an increase on the 5.05tn won achieved just a year ago.

Samsung's profits are made more impressive when compared to those recently posted by rival Apple, which suffered a drop in profits for the first time in a decade.

The South Korean firm has long celebrated impressive sales of its smartphone devices, replacing Apple as the world's leading smartphone maker last year.

That success has seemingly continued strong into 2013, with profits of the firm's smartphone division rising by over 55 per cent during the first three months of the year alone.

Whilst Apple is set to release an updated iPhone device later this year, the imminent release of the Samsung Galaxy S 4 is certain to provide the firm a healthy boost throughout Q2 and beyond.

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