Samsung has posted a record profit prior to the launch of its new flagship model - Galaxy S3. The Galaxy lineup of Android smartphones from Samsung, specially Galaxy S2 and Note, has helped the Korean firm to tighten its grip over the global mobile phone market. Things are looking good for the company as Galaxy S3, which is scheduled for May 3 debut, is the most anticipated Android device of 2012.

Samsung's net profit increased by 81 percent from last year to 5.05 trillion won ($4.46 billion) for the first quarter of 2012.

Last year, the Korean tech giant topped Apple in smartphone sales by a small, yet winning margin. And in the first quarter of 2012, Samsung turned out to be a clear winner by selling 44.5 million smartphones as compared to 35.1 million iPhones sold by Apple. Samsung didn't stop there. In the previous quarter, Samsung ended the 14-year old reign of Nokia by beating the Finnish firm in cell phone sales to become the king of cell phone world. It shipped 93 million phones while Nokia's shipment included 83 million units.

Now Samsung has turned out to be a market dominator. Samsung's upcoming flagship model - Galaxy S3 is expected to release on May 3. Samsung has confirmed that the new Galaxy S3 will boast of quad-core Exynos processor clocked at 1.4 GHz. According to the company, the new smartphone will make other phone owners feel as dumb as sheep.

Reportedly, 1 in 4 cell phones in the world carries a "Made by Samsung" tag. Samsung has topped Apple in smartphone sale, but still there is a long way to go as Apple is still the world's most profitable (and valuable) company. Apple earned $11.6 billion in last quarter, which is more than double of Samsung's earning but also 10 percent less that its last quarter's earnings.

After looking the record-breaking profit and huge success of Galaxy S2 and Galaxy Note, we can confidently say that the Korean tech giant is aiming at another milestone, with its Galaxy S3, something that other cell phone manufacturers will find hard to emulate.

(reported by Johnny Wills, edited by Dave Clark)