South Korea-based Samsung posted a record Q3 profit of $7.3 billion, outperforming the analysts' estimates. The solid sales figures of Galaxy helped the profit surge over Apple's iPhone.
In a statement, the company said that the profits jumped 91 percent. The recorded profits were put at $7.3 billion in three months ending in September.
Bloomberg compiled an average of 32 analysts' estimates that put the figures $6.9 billion.
"Sales have been very, very good around the world despite the best efforts of Apple to restrain them," said Mark Newman, a Hong Kong-based senior analyst at Sanford C. Bernstein, the Seattle Times reported. "There's a lot of growth left in the company, and I would think that it can go a lot higher."
The high profits were due to the good sales in high end TVs. The May debut of Samsung's Galaxy S3 made the earning of mobile-phone business rise by 93 percent.
There was a 29 percent rise in Samsung stocks this year.
In 100 days, the sales of Galaxy S3 crossed 20 million units, Samsung said on Sept. 6.While the weekend sales of Apple's iPhone was more than five million units. The figures fell short from the analysts' estimates.
Samsung and Apple are fighting various court battles around the world. In late August, Apple was awarded more than $1 billion in damages against Samsung.
Samsung will be introducing its new Galaxy Note 2 in the U.S. this month. It is also planning to launch Windows 8-based ATIV smartphones competing with Nokia Lumia series.
