Samsung is set to overtake Nokia as the world’s largest manufacturer of smartphones when Q2 closes, the Nomura Group said.
The investment-banking firm predicts Apple will also overtake the struggling Finnish handset maker and take over the number 2 spot. Nokia has lead the market since 1996.
Nokia has been in steady decline, losing market share rapidly as competitors like Apple and Google developed immensely popular smartphone platforms. Research firms Gartner and Canalys both predicted Nokia would lose their volume leadership in the smartphone market at some point this year. The Dow Jones even recently suggested that the market pointed to Samsung buying Nokia.
Nokia still does massive volume in overall handset sales, but their tenuous position in the lucrative smartphone market recently caused them to switch from their Symbian platform to Microsoft’s well-received Windows Phone.
If the Windows Phone gamble doesn’t pay off, however, a sale may look more and more attractive to Nokia shareholders.
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