Photo courtesy of SamsungSamsung Galaxy S3 image

The Samsung Galaxy S3, to no surprise, has performed above and beyond Samsung's original expectations, selling more than 10 million units since its unveiling in May.

J.K. Shin, an executive in the company, confirmed that Samsung reached this milestone in a statement made earlier this week.

"Shin Jong-kyun, the president of Samsung's information technology and mobile communications division, told reporters that the phone has become a 10-million seller after it was first unveiled in May 29 in London," he said.

"He, however, did not give exact numbers. This translates into about 190,000 Galaxy S3s being sold every day, and easily ahead of its very popular predecessor, the Galaxy S2, that reported sales hitting 10 million five months after it reach consumers," added the Samsung executive.

The company has accomplished a great feat by selling this many units in such a short window of time. And with such a large amount of people purchasing this device, many consumers will be locked into new contracts which could in turn hinder them from picking up the new iPhone when it launches later this year.

However, Samsung is not quite there yet, in terms of competing with iPhone sales. In this past quarter, Apple sold 35 million iPhones. These figures include older models such as the iPhone 4 and 3GS. In order to reach numbers that high in one quarter, Apple has to sell around 388,000 iPhones per day. The company does not seem to be losing any steam.

But even with those sales numbers, Samsung still has its own lower end smartphones such as the Galaxy S2, and Galaxy Nexus that are probably still doing big numbers.

The release of the new iPhone should make this battle more interesting and give Apple a significant boost. However, the Galaxy S line's rapid growth is undeniable at this point.