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Samsung Ends Nokia’s 14-Year Run as Biggest Handset Maker

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.