Samsung Takes the #1 Spot in Smart Phone Sales

Tallahassee, FL 10/31/2011 (StreetBeat) -- Samsung Electronics Co. (SSNLF.PK) overtook Apple Inc. (Nasdaq: AAPL) in the third quarter to become the world's largest seller of smartphones, data released Friday by market research firm Strategy Analytics show.

Samsung, the world's largest technology firm by revenue, sold a total of 27.8 million smartphone during the quarter, while Apple shipped 17.1 million. Nokia Corp. (NYSE: NOK) held third place with 16.8 million units.

Samsung's share of the smartphone market rose to 23.8% in the third quarter from 9.3% a year earlier, while Apple's market share fell to 14.6% from 17.4%, the research firm said in a statement. Nokia saw its share fall sharply to 14.4% from 32.7%.

The global smartphone shipments in the third quarter grew 44% on year to reach a record 117 million units, the research firm added.

The report came after Samsung released its third-quarter earning results earlier in the day. Samsung's net profit fell 23% in the third quarter from a year earlier because of weakness at its ailing display unit. But the result was better than expected as strong sales of its smartphones offset weakness in other consumer products and electronic components.

Samsung's telecom division, which accounted for 36% of revenue, provided more than half of the firm's operating profit and posted its best profit margin since 2004.

"After just one quarter in the top spot, Apple slipped behind Samsung to second position and captured 15 percent share. Apple's global smartphone growth rate slowed to just 21 percent annually in Q3 2011, its lowest level for two years," said Neil Mawston, Director at Strategy Analytics.

"We believe Apple's growth during the third quarter was affected by consumers and operators awaiting the launch of the new iPhone 4S in the fourth quarter, volatile economic conditions in several key countries, and tougher competition from Samsung's popular Galaxy S2 model," he added.

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