Samsung 'overtakes Nokia'

27/04/2012

Samsung Overtakes Nokia

Samsung has overtaken Nokia as the world's largest maker of mobile phones, according to the latest figures from research firm Strategy Analytics.

Nokia had been at top spot since 1998, however it only managed to ship 83 million handsets in the first quarter of 2012 compared to the 93 million Samsung managed.

The Korean firm also reported its highest quarterly profit since 2008, which stood at 5.05 trillion won (£2.8 billion) in the three months ending March 31st. This represented an 81 per cent rise from last year's figures.

Nokia has struggled to keep pace in the burgeoning smartphone market but it had managed to stay atop the mobile phone shipments rankings due to its sales of low-end devices.

"We cautiously expect our earnings momentum to continue going forward, as competitiveness in our major businesses is enhanced," head of investor relations at Samsung Robert Yi was reported as saying.

Posted by Peter Robinson

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