The Korean firm forecast a consolidated operating profit of 6.7 trillion Won (£3.8bn) for the three-month period, which would be its highest quarterly profit since 2008.
Earlier in the year, Samsung overtook Finnish firm Nokia as the world's biggest maker of phones. The company is also the main challenger to Apple's iPhone in the smartphone market.
Samsung said that it expects overall worldwide sales of 47 trillion Won (£26.5bn) in the second quarter, up from 39.44trn Won in the same period in 2011.
The firm has been particularly buoyed by the launch of the Galaxy S3 smartphone in May, as the premium handset has proved a hit with consumers.
In June, the head of Samsung's mobile phone division, Shin Jong-Kyun, said that the company expects to sell 10m units of the S3 by the end of this month.
But Nho Geun-Chang, an analyst with HMC Investment Securities, told BBC News that shipments of the S3 are expected to top 19m by the end of the third quarter.
"Earnings will be stronger in the current quarter as sales of the high-end Galaxy S 3 will increase dramatically and drive the telecom division's earnings to above 5tn won," said Geun-Chang.
"We estimate shipments of the Galaxy S 3 will reach 19 million units in the third quarter."
Despite a strong start for the S3, Samsung could face a tougher period in the final three months of the year, as Apple is expected to announce its new iPhone and new handsets running Microsoft's Windows Phone 8 will hit the market.
A more pressing issue facing the firm is its legal battle with Apple, which has resulted in the Galaxy Tab 10.1 tablet and Galaxy Nexus smartphone being banned in the US pending the outcome of a court case.
Despite the positive profits forecast, Samsung shares fell 2.2% on the Seoul stock exchange due to continued fears over the firm's global television division and also concerns over the impact of the European economic crisis on sales.