As far as the name and features of the new Galaxy phone is concerned, the Korean electronics giant had managed successfully to keep them under wraps until Thursday when senior vice-president Robert Yi revealed the name of what the company calls its Next Galaxy. And, yes, we predicted it right, the names is indeed Samsung Galaxy S3!

During their Q1 2012 earning call that took place Thursday, Robert Yi announced that the new phone would be the company's most successful smartphone ever. He also mentioned that there could be a global launch of the smartphone.

Meanwhile, Samsung announced its Q1 earnings. The company has made revenues of 45.27 trillion Korean won on a consolidated basis for the first quarter ending March 31, 2012, a 22-percent increase year-on-year. It turned in a record 5.85 trillion won ($5.1 billion) in operating profit, a 98 percent increase year-over-year. The company's 5.05 trillion won net profit was up 82 percent against the year-ago quarter.

Despite difficult business environments, including seasonal low demand for major products such as PCs and TVs amid a global economic slowdown, we achieved record quarterly results based on our differentiated products and technology leadership, said Robert Yi. We cautiously expect our earnings momentum to continue going forward, as competitiveness in our major businesses is enhanced.

While the world awaits the debut of the next Galaxy S phone which is powered by its Exynos 4 Quad CPU, demands of the existing Galaxy S2 and Note are still on a high.

The Korean company recently released a couple of teasers ahead of the launch of its much-hyped Galaxy smartphone May 3. The teaser combines two videos. One of them is 1.15-minute long and the other lasts only 15 seconds. The first trailer makes some brief claims of technology that fits easily in your hand, and the second trailer reveals more of the same, with Samsung promising the device will become a natural side of life, throwing in a quick jibe at those rival smartphone-carrying sheep.