It's that time again. Everyone is reporting their Q2 financial result to the world and Samsung didn't want to be left out. The world's largest TV and mobile phone manufacturer reported a massive $5.9 billion in profit for the second quarter. Laptops and desktop monitors haven't been doing as well lately, but the Galaxy S III and Note have been boosting sales.

Incredibly, over half (62%) of Samsung's profit came from mobile phone sales, a large portion of which were made up of Samsung's flagship device, the Galaxy S III. Seven million Galaxy S III smartphones were shipped during the second quarter and analysts are expecting that number to increase to around 20 million in the third quarter.

Analysts are also expecting that the upcoming Apple iPhone 5 will put some water on Samsung's hot streak. Furthermore, Samsung is experiencing competition in the low-end smartphone market. Samsung is also coming up against a lawsuit with Apple in California, where Apple has reportedly requested $2.5 billion in damages.