Samsung recently announced its estimated earnings for the first quarter of 2013, estimating a 53% rise in profit to 8.7 trillion won ($7.7 billion). This will mark the fifth record quarter in a row for Apple’s biggest rival, even exceeding Wall Street expectations.

Samsung’s estimate is better than the forecast 8.3 trillion won, and analysts say that earnings will hit a new high in the current quarter with Samsung’s Galaxy S IV, expected to arrive this month.

Samsung’s success seems to be fuelled by the Galaxy S and Note series, which have catapulted the company to record-breaking earnings growth. They also helped Samsung become the second biggest player in the global smartphone war, following none other than Apple. The company is also seeing success with its low cost offerings for other markets, like the REX and the Galaxy Pop.

Samsung’s 30-plus smartphone models cover just about every price point to boost shipments, which also helped the company take customers from Apple, with cheaper, more affordable smartphone options. Samsung is thought to have sold 68-70 million smartphones in the first quarter of 2013, up from 63 million during the fourth quarter of 2012.

Analysts predict that Apple, on the other hand, will lose around 30% to around 30 million in the first quarter of 2013, which is down from the 47.8 million in the previous quarter.

Image Credit: PC Advisor