Samsung Electronics Ltd’s (SSNLF.PK) third quarter earnings report included quadruple smartphone sales and an increased market share that knocked Apple Inc. (NASDAQ:AAPL) off its throne.
Samsung reported a third quarter net profit decline of 23 percent to KRW $3.44 trillion ($3.11 billion) on a KRW $3.4 trillion forecast. Revenue rose 3 percent to KRW $40.23 trillion with smartphone sales almost quadrupling to a record $27.8 million. These numbers offset a weakness in the company’s other consumer products and electronic components.
One of the biggest news to come from the report was Samsung’s increased third quarter smart phone market share to 23.8 percent. With this number, the company surpassed Apple’s 14.6 percent number and grabbed the No. 1 spot according to Strategy Analytics. Rounding out the top three is Nokia Corporation (NYSE:NOK) with its 14.4 percent market share. Nokia held on to its top spot in handsets with a 27.3 percent market share while Samsung followed at No. 2 with a 22.6 percent share.
Samsung has built its business on the back of Google’s (NASDAQ:GOOG) Android, using the software to boost sales of its Galaxy smartphones, and its Galaxy tablets as well. “Samsung has come out with products that appeal to all the different form factors and specifications out there,” said T.Z. Wong, a Beijing-based analyst at researcher IDC. “That is a strategy they have executed very well.”
Here’s how shares of these stocks closed last week:
- Apple Inc. (NASDAQ:AAPL): The shares recently traded at $404.95, up $0.26, or 0.06%. Its market capitalization is $376.31 billion. They have traded in a 52-week range of $297.76 to $426.70. Volume today was 11,529,964 shares versus a 3-month average volume of 22,782,600 shares. The company’s trailing P/E is 14.63, while trailing earnings are $27.68 per share. About the company: Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers.
- Nokia Corporation (NYSE:NOK): The shares recently traded at $7.18, down $0.13, or 1.78%. Its market capitalization is $26.64 billion. They have traded in a 52-week range of $4.82 to $11.75. Volume today was 18,580,636 shares versus a 3-month average volume of 33,267,000 shares. The company’s trailing P/E is 28.16, while trailing earnings are $0.26 per share. The company pays a dividend of $0.48 per share for a dividend yield of 6.70%. About the company: Nokia Corporation is a player in the mobile industry. The Company makes a range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Nokia also provides equipment, solutions and services for communications networks.