Samsung reports record profits

Lee Jin-man/AP/Press Association Images

Samsung, the world's largest technology firm by revenue, has reported another record high quarterly profit as customers flocked to Galaxy smartphones amid the absence of competitors, which helped the South Korean firm outdo rivals even at one of the most challenging times for the global tech industry.

Samsung Electronics said its net profit reached a record high of 5.2 trillion won (£2.9 billion) in the three months ending in June, a 48% jump from a year earlier.