Samsung's operating profits are set to surpass its rival Apple for the first time since the two became the world's dominant smartphone manufacturers.

The Korean electronics giant said operating profits in the second quarter of the year had hit a record 14 trillion won (£9.4bn).

This would make Samsung Electronics the world's most profitable non-financial company, a landmark moment after a tumultuous year.

Sales of Samsung handsets are believed to have improved despite last year's botched launch of the Galaxy Note 7 phone, with its well-received new S8 phone, supported by a huge marketing blitz, driving sales.

However, unlike Apple, Samsung does not make the majority of its profits from smartphones. Most of the increase is likely to have been driven by the company's mammoth display and microchip manufacturing division, with demand for electronics and computer servers surging.