Samsung overtook Apple in the first three months of the year to become the world’s largest smartphone vendor and ended Nokia’s 14-year run as the largest maker of all phone handsets by volume, according to research release Friday by Strategy Analytics.
The South Korean electronics giant reported Friday a record net profit of $4.44 billion in the first quarter, led by strong mobile sales.
“Samsung’s global smartphone shipments rose 253% annually to 44.5 million units, as demand surged for its popular Galaxy models such as the Note, S2 and Y,” Alex Spektor, associate director at Strategy Analytics, said in a news release.
Apple’s sales of 35.1 million iPhones in the first quarter helped lead the company to double first quarter profits. Nokia sold 11.9 million handsets January through March, more than half as many the Finnish firm sold year on year, eroding its smartphone market share to 8.2% from 23.5% in 2011.
Source: CNN Business
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