Samsung has sold 50 million Galaxy S and S2 phones, the company has announced. 24 million Galaxy S and 28 million Galaxy S2 devices have been shipped since the original phone was released in 2010, the Korean handset manufacturer revealed in a press release.

The 50 million figure represents twice the amount of smartphones sold last year, confirming Samsung's spot as a leader in the mobile phone market. Additionally, the company claims to have shipped seven million units of its smartphone/tablet hybrid, the Galaxy Note, since its launch in October 2011.

Samsung's net profit nearly doubled year-on-year for the quarter ending 31 March, and its operating profit reached record highs of 5.85 trillion won (£3.2 billion).

The company sold some 44.5 million handsets in the first quarter of 2012, as compared to competitor Apple's 35 million iPhones sold in the same time period.

The new Samsung flagship smartphone, the Galaxy S3, was released this week following a record nine million pre-orders. The company is manufacturing five million units of the hotly anticipated Galaxy S3 per month, according to the Korean Economic Daily.

It was recently announced that the handset will be the official phone of the upcoming London Olympics, a coup that will likely boost its already impressive sales figures.