Samsung has overtaken rival Nokia to become the world's largest maker of mobile phones, based on the latest analysis from the first three-months of the year.
Business Wire reports that, according to the research firm Strategy Analytics, the company Samsung Electronics has become the world's largest maker of mobile phones, surpassing the long-held status of Nokia. The Finnish company Nokia have held the top spot since 1998.
According to Reuters, the latest market analysis indicates that Samsung shipped some 93 million phones in the first quarter of 2012 compared with 83 million by rival Nokia. At the same time, the South Korean company announced record profits of 5.05 trillion won (around $4.5 billion) for the same period. In contrast, Nokia reported a 1.34 billion-euro ($1.8 billion) first-quarter operating loss after handset sales slumped.
Samsung produces around a fifth of South Korea's total exports and its revenues are larger than many countries' GDP. The company was formed in 1938 and, from the 1990s, has become one of the most successful electronics companies in the world.
Samsung will launch the latest version of its Galaxy range of phones on May 3 (the Galaxy 3). The Galaxy is currently outselling Apple's iPhone worldwide. The new Galaxy phone will boast, according to the BBC, a quad-core processor., which will allow the smartphone to run video games with more complex graphics as well as being able to handle video editing apps at higher speeds.This could well boost the companies fortunes even further.