Samsung TVs being demonstrated at this year's Consumer Electronics Show / Getty

Profits are still in decline, but a little less

Samsung has surprised the market by forecasting a smaller than expected fall in first quarter profits, ahead of the launch of its new Galaxy S6 smartphone later this week.

The world’s largest mobile phone and TV maker expects to make an operating profit of 5.9 trillion won (£3.65bn) for the first three months of the year, a fall of more than 30% compared to last year’s figure and Samsung’s sixth consecutive quarterly decline.

Despite the big drop, the figure is above analysts’ forecasts for the technology giant, which has been struggling with competition in its home market from the likes of Apple and Xiaomi.

The company hopes that its new phone, the S6, is enough to put it back on top against the iPhone. The phone brings many features that have been lacking in recent versions of its flagship handset, and The Independent's review said that it was now the best Android phone around.

The company has been seeking to improve its TV offerings, too, including releasing the first one with a curved screen.