Samsung Ends Nokia’s 14-Year Run as Biggest Handset Maker
This article is for subscribers only.
Samsung Electronics Co. overtook Nokia Oyj as the world’s biggest vendor of mobile phones for the first time, ending the Finnish company’s 14-year run as the global leader, according to an industry study.
Samsung shipped 93.5 million handsets in the first quarter, 36 percent more than a year earlier, compared with 82.7 million for second-ranked Nokia, researcher Strategy Analytics said in a statement today. Demand for Galaxy smartphones helped Suwon, South Korea-based Samsung post first-quarter net income today of 5.05 trillion won ($4.5 billion), beating analysts’ estimates.