Galaxy S3 Helps Samsung Topple Apple in Smartphone Space: Report

Samsung is currently the world leader in smartphone space over Apple and Nokia.

According to a recent poll of 41 analysts conducted by Reuters between July 1 and July 10, after several months of battle, Samsung has finally outpaced Apple with the launch of its flagship Galaxy S3 phone.

Analysts believe, Apple has sold 30.5 million iPhones in the current quarter whereas Samsung predicted to sell 50 million smartphone making the Korean electronics giant "the smartphone hero in the second quarter," said IDC analyst Francisco Jeronimo to Reuters.

Apple and Samsung, however, declined to comment.

Just a month back, ABI Research revealed that both Apple and Samsung jointly conquered 50 percent of the global smartphone market in the first quarter.

Apple will report its third-quarter earnings after the market closes on July 24. While critics believe that the company will miss Wall Street's consensus, Stephen Rosenman of Seeking Alpha indicated that for past nine years, Apple's third-quarter earnings have always been better than its second-quarter earnings and this year also the Cupertino tech giant will blow away the critics with operating income of $16.7 billion and top the Street prediction of $10.34 with $13.62 per share and will come close to its record $13.87 EPS in the first quarter, Rosenman believes.

While Samsung has won the top position in this quarter with its Galaxy S3 smartphone, Apple is also prepping up the next generation of iPhone to launch in fall. Looking at the pent up anticipation and enthusiasm among the Apple fanboys, we can easily assume that, once launched, the iPhone 5 will shatter all the previous iPhone sells record and Apple will again come back as the ruler of smartphone world pretty soon.

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