Samsung now the #1 handset maker in the world

Samsung has ended Nokia’s crown as the largest handset maker in the world, bringing to an end the Finnish mobile phone manufacturer’s legendary 14-year place at the top.

As per IHS iSuppli Samsung will ship 29% of all international smartphone shipments of 2012. This is an increase of 5% on its market share of 2011.

Nokia’s share in the worldwide smartphone shipment of 2012 is estimated at 24%, a huge fall of 30% from 2011.

One key factor behind Samsung’s meteoric rise is the adoption of smartphones and the decline in popularity of feature phones. As per Wayne Lam of IHS, Samsung is the name synonymous with the fastest growing mobile phone segment. The diverging fortunes of Samsung and Nokia accounted for Samsung’s success and Nokia’s troubles.

The report from IHS iSuppli also shows Samsung leading the smartphone domain with 28% market share and Nokia dropping from 16% to 5%.

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