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Samsung Repeats Plan To Pass Nokia In Global Sales

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By Douglas A. McIntyre Updated Published
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Nokia (NYSE: NOK) has been the largest manufacturer of handsets in the world. As recently as two years ago, it had nearly 40% of the global market. That has changed as it has lost ground in the smartphone market, particularly to Apple (NASDAQ: AAPL), firms like HTC and Samsung which use the Google (NASDAQ: GOOG) Android OS in their smartphones, and even embattled Research In Motion (NASDAQ: RIMM).

Samsung has recently said on several occasions that it believe it can take Nokia’s No.1 spot away from it.

Samsung management made the comments again at CES

According to Reuters

Samsung chief executive Choi Gee-sung told reporters in Las Vegas on Monday the company overtook Nokia in revenue terms in its latest reported quarter and was confident of topping the Finnish group in shipments this year.

As Nokia has found, the top spot does not necessarily mean big profits. Apple’s iPhone continues to hold a large share of the profits made among smartphone makers because carriers will pay premium prices for the iPhone

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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