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Samsung Galaxy phones dial up record £6bn profit

Samsung smashed moneymaking records this summer, raking in £5.9bn profit thanks to Samsung Galaxy smart phones.

Samsung smashed moneymaking records once again this summer, raking in £5.9bn profit thanks largely to the lower-priced footsoldiers of the Samsung Galaxy smart phone army.

Samsung did boffo business once again this Q3, the three months up to September, with continued strong smart phone sales and decent performance from the part of the business that makes memory chips.

Revenue hit £34.33bn, an increase of 13 per cent over last year. Profits are up by a quarter.

The Korean company's smart phone success came more from sales of low-end Galaxy phones than the high-end likes of the Samsung Galaxy S4. In fact, S4 sales are roughly on par with the S3, leading some industry experts to suggest the Galaxy S5 could be rushed out to try and make up for it.

In the past few months, Samsung has unveiled interesting new technology such as the curved Samsung Galaxy Round and wearable Samsung Galaxy Gear smart watch. They're yet to have an impact on sales figures, but show Samsung is innovating to continue its domination of the mobile market.

Can Samsung continue to dominate the smart phone market? What can rivals do to catch up? Tell me your thoughts in the comments or on our results-driven Facebook page.