Samsung To Gain Top Spot in Cell Phone Market
Samsung is to take the top spot from rival Nokia in the cell phone market. Nokia has been comfortably sitting at the top of the worldwide cell phone market sales table for almost 14 years, however analytics company IHS has suggested that this will soon change. IHS has said that Samsung will end Q4 2012 with a 29% market share, while Nokia will be left with a lower 24% market share. A large proportion of Samsung's share comes from its high-end Android handsets such as the Galaxy S3.
For those looking for the figures, Samsung reported $7.4 billion profit after 98 million sales during Q3, while Nokia reported a $1.24 billion loss after 82 million sales. When looking at the proportion of smartphone sales, Samsung also has the lead with the sale of 55 million units during Q3, while Nokia sold just 7.2 million units. IHS believes this trend will continue through Q4, leaving Samsung in the top spot in the cell phone market, and Nokia facing a 5% decrease in smartphone shipments.