Samsung Electronics reported first quarter results Friday, with sales of mobile phones and flat screen TV’s helping boost profits to its highest level in 2 years. Net profits climbed 37 percent in the first three months of the year to $2.2 billion, reports Bloomberg. Samsung, now the second largest handset maker in the world behind Nokia (NYSE: NOK), said that mobile phone sales were similar to the previous quarter, in which a record 46.3 million handsets were sold. Samsung bosses pointed out that this was achieved despite a 13 percent contraction in the mobile phone market. As with Sony (NYSE: SNE) Ericsson (NSDQ: ERIC) and Nokia, emerging markets were good to Samsung, with countries like China and India being a “main driver of growth.”