In the three months between July and September, Samsung shipped 27.8million smartphones, making it the world's largest smartphone manufacturer, grabbing the title from Apple.
IIn the period Samsung had a 23.8 per cent market share according to research from Strategy Analytics, compared with 14.6 per cent for Apple (selling 17.1m units) and 14.4 per cent for Nokia (16.8m handsets).
Of course these figures are slightly skewed, as a lot of people held off purchasing an iPhone during this three month period, waiting for the launch of the iPhone 4S in October. With indications of huge early sales volumes for Apple’s latest phone, we could see Apple returning to the top of the smartphone table by the end of the next quarter.
Samsung’s success in the smartphone market is down to phones like the Samsung Galaxy S II as well as its ability to produce new phones efficiently and on time.
While profits from Samsung’s mobile division more than doubled to £1.41billion for the third quarter, overall profits dived by 23 per cent thanks to its poorly performing chip manufacturing division.
The company’s bread-and-butter, the chip manufacturing division, saw profits halve compared to the same period last year, down to £895m. Samsung like other chip manufacturers has been hit by falling prices for memory chips globally.
Samsung said it was “cautiously optimistic” about its fourth quarter results, which will be boosted by the £870m sale of its hard drive business to Seagate.
"Looking ahead into the fourth quarter, when industry demand is traditionally at its peak, Samsung expects sales of mobile devices to remain strong and flat-panel TV shipments to increase," the company added in an earnings statement.
While Samsung is currently the king-pin of the smartphone business, others are lining up to topple them. Apple is leading the pack with its iPhone 4S, but Nokia’s new line-up of Windows Phone handsets, including the Lumia 800, could reinvigorate the Finnish company’s fortunes.
And with Sony taking full control of the Sony Ericsson venture, Samsung is certain to face stiff competition in the smartphone space. However it is already announced its next flagship device, the Samsung Galaxy Nexus, as it looks to continue to dominate this fast growing market.