Samsung says that since the Galaxy S5's launch, the flagship smartphone has outstripped the S4's sales figures by one million units in the first month.
The South Korean firm reports that during its debut month, the Galaxy S5 handset has outperformed its predecessor, the Galaxy S4 smartphone. During the first month, over 11 million S5 smartphones were sold, while the S4 secured roughly 10 million sales.
According to the Wall Street Journal, Samsung's mobile business chief J.K. Shin said he believed strong S5 sales will result in higher mobile profit margins and an increased marketshare within the quarter. In particular, sales have been strongest in developed markets including the US, Australia, and Germany.
"It's been a month since we began selling the S5, and out of the gate, sales are much stronger than the Galaxy S4," Shin told the publication.
In order to keep profit flowing in to company coffers, Samsung plans to roll out variations of the phone within the next few months to different countries. The firm will also roll out a new range of tablets in June.
The figures show that the electronics giant's smartphone business may be regaining some momentum following the loss of market share in Q1 2014. Stiff competition from handset makers, including Huawei and Lenovo which have begun breaking in to emerging markets and offering cheaper handsets, are believed to be responsible for the, as well as the ongoing rivalry between Samsung and Apple.
The South Korean firm has reported lacklustre financial results in the past two consecutive quarters. In Q1 the company reported operating profit of $8.2 billion, a decline of 3.3 percent from Q1 2013.
Some have criticized the Galaxy S5's design due to a lack of innovative features and the plastic feel of the device. Earlier this month,that the company's design chief Chang Dong-hoon offered to step down due to criticism levied against the flagship device.