Samsung's Quarterly Profit Reaches All Time High

Despite all the lawsuits with Apple and bickering over patent claims, injunctions, and all the other behind the scenes drama, Samsung has hit its stride, posting record quarterly operating profit of 5.8 trillion won ($5.13 billion in United States currency). That's up from 2.95 trillion won ($2.6 billion) from one year ago, and up from 5.3 trillion won ($4.7 billion) from last quarter.

Lee Ka-keun, an analyst at Hana Daetoo Securities, tells The New York Times that Samsung and Apple are about to "engage in a full-fledged war," with Samsung planning to launch its new Galaxy S smartphone in the second quarter and Apple prepping another iPhone model (iPhone 5 or 'new' iPhone).

In the meantime, Samsung is raking in cash like it's going out of style. The company's Galaxy line of smartphones is proving hugely popular, including the Galaxy Note, an oversized device that sits between a smartphone and a tablet (see our review here).

Samsung's raging success as of late is in stark contrast to HTC, which saw its profits slide 70 percent to $2.3 billion in the first quarter of 2012. That's still a lot of coin, but nowhere near what HTC is used to, and only a little more than half of what Samsung managed in the same time frame.