Apples leaves behind Samsung in the race for becoming the top smartphone manufacturer in the world. It has surpassed Samsung’s position for the first time in last 5 years and overthrown the company out of the race after reporting its record breaking quarterly sales. Apple today announced financial results for its fiscal 2017 first quarter ended December 31, 2016. The Company posted all-time record quarterly revenue of $78.4 billion and all-time record quarterly earnings per diluted share of $3.36.
The Cupertino based company reportedly shipped and sold a whopping 78.3 million smartphones in the fourth quarter of 2016, seizing a total of 17.8% market shares where as Samsung managed to ship a total of 77.5 million units in the quarter, which equals to 17.7% share of the market. Samsung overtook Apple as the world’s biggest smartphone maker in 2011 and had retained the top spot since then, bar one quarter in 2015 when the two were tied according to Strategy Analytics’ data.
The Apple Newsroom adds “We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch. “Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline”, says CEO Tim Cook.
This was the iPhone’s best performance for over a year, as Apple capitalized on Samsung’s recent missteps. Samsung lost momentum in the quarter and faced a massive Note 7 recall due to faulty batteries. China’s Huawei, Oppo, and vivo rounded up the top 5 with 10.2%, 6.7%, and 5.8% share, respectively.