According to the company it expects earnings to rise in the second quarter after posting its highest profit in three quarters in January-March, boosted by strong demand for its new Galaxy S6 flagship smartphones.

To make matters even more cheery for Samsung, researcher Strategy Analytics saying the South Korean giant overtook Apple as the world's top smartphone maker in the first quarter.

Samsung Vice President Park Jin-young "Galaxy S6 sales have been going as well as expected, while demand for the Galaxy S6 edge have been better than anticipated. "

The firm reported a January-March operating profit of $5.64 billion and promised that earnings for April-June should continue to rise, thanks to the two Galaxy S6 models which are breaking the company's sales records.

There had been some fears that Galaxy S6 phones might not be selling, but it turned out that this was just a rumour.

Analysts have been agreeing that Samsung is winning because there is nothing else out there that can match it. Daewoo Securities analyst Jonathan Hwang said there was nothing within the current Android camp that could stand as an alternative to Samsung's high-end smartphones.

Samsung's chips business remained the top earner thanks in part to surging orders from smartphone makers including Samsung itself. The company said it expected robust chip sales to continue in the April-June period.

Samsung also warned that the typical industry pattern of a stronger second half may not be as pronounced this year due to risks like the weaker euro and emerging market currencies.