As financial results continue to be released for mobile phone companies and manufacturers, we are beginning to get a better picture of what the condition of the global smartphone market is like. With Samsung’s release this morning of their third quarter results, combined with other reported results, we see the market is extremely healthy and that Samsung is sitting on top.
Samsung reported profits of $6 billion, up a whopping 91% compared to the same quarter last year. The positive financial growth for Samsung was helped immensely by sending more than 56 million units out the door just during the third quarter. In reaching that number, Samsung set a record for the number of smartphones shipped by a single vendor in a single quarter. The number of units shipped by Samsung was more than double the volume of main rival and next closest competitor, Apple. Samsung’s share of the market increased from 22.7% last year to 31.3% this year.
In the broader market, smartphone vendors shipped almost 180 million units during the third quarter versus 124 million for the same quarter in 2011. This accounts for 40% of the worldwide mobile phone market. Research firm IDC notes that Nokia fell off the list of top 5 smartphone manufacturers, replaced by Research In Motion. Chinese firm ZTE continues to maintain a spot on the top 5, as does HTC.
“At the heart of mobility is communication,” noted Ramon Llamas, a research manager with IDC, “mobile phones and smartphones play a critical role in keeping people connected, regardless of location. In addition, their utility beyond communication – productivity, entertainment, and multimedia – continues to add to their value.”