Samsung makes bumper profit as Galaxy S4 arrives in shops
As the brand new and hotly anticipated Samsung Galaxy S4 arrives in shops, the Korean company has reported record profits.
Richard TrenholmFormer Movie and TV Senior Editor
Richard Trenholm was CNET's film and TV editor, covering the big screen, small screen and streaming. A member of the Film Critic's Circle, he's covered technology and culture from London's tech scene to Europe's refugee camps to the Sundance film festival.
It's a big day for Samsung: as the brand new and hotly anticipated Samsung Galaxy S4 arrives in shops, the Korean company has reported record profits.
Already the world's biggest manufacturer of phones, Samsung made a record £4.2bn profit in the last three months. That success is due in large part to Samsung's phenomenally successful Galaxy range of smart phones, led by the Galaxy S3 and featuring a smorgasbord of Android phones of all shapes and sizes. Smart phone profits rose 55 per cent.
The announcement is great timing for Samsung, after rival Apple reported its first drop in profits for ten years. And today marks the release of the Korean company's latest flagship, the Samsung Galaxy S4. The S4 will no doubt do boffo business -- check out our pick of the best deals from networks and retailers if you fancy taking one home. Hit play on our video below to see what the S4 fuss is about.
Watch this: Samsung Galaxy S4
And the S4, with its quad-core processor, giant high-definition screen and fistful of features has a clear run at the market for a while: Apple says it won't launch any new kit until autumn or even into next year.
Samsung is sounding a note of caution, however. The money to be made from high-end phones is shrinking, and the lower reaches of the market are set to become the new battleground for warring phone-builders. Samsung already makes phones of all prices, and rivals are now targeting emerging markets and cheaper phones too.
With the S4 and a host of smart phones to suit every wallet on its books -- backed by an advertising budget bigger than the GDP of a small country -- things look good for Samsung's success to continue. And it's set to move into new areas too, with a smart watch officially confirmed to be in the works ahead of Apple's rumoured iWatch.