Samsung Galaxy Note 1 million

Samsung is expected to announce first-quarter profits of around $4.5 billion on Friday, Reuters said Thursday. The gain is largely being credited to strong sales of Samsung's highly successful Galaxy smartphone family and its most recent release, the Galaxy Note. The possibility of a strong first-quarter showing has led market analysts to project further growth for the South Korea based company.

"Our view that margins wouldn't significantly increase was very wrong," CLSA analyst Matt Evans told Reuters. "This strong performance has been driven by not just higher than expected volumes but also increased dominance at the high-end of the Android market, where there was little new competition … Samsung's smartphone shipments probably exceeded Apple's by a significant margin."

Samsung may also want to thank its biggest competitor, Apple, for its success. Apple currently uses Samsung displays and chips for its iPhone and iPad, while Samsung keeps the bulk of its mobile development in-house. The future looks bright for Samsung; the Galaxy family continues to produce solid sales figures and the company has its next-generation Galaxy S smartphone just over the horizon.

[via: Reuters]