Samsung Now the World’s Largest Cell Phone Company, Nokia Stuck in Nosedive
Samsung is now the world’s largest cell phone company, according to a CNN report citing IHS iSuppli. Nokia, who had a 14 year run at the top spot has now fallen to number two, courtesy of Samsung. According to IHS iSuppli, in the first quarter, Samsung shipped 92 million cell phones, while Nokia shipped 83 million. Nokia seems to be in quite the downward spiral as S&P has downgraded Nokia’s debt rating to “junk” status. Furthermore, Nokia has fallen from being the number one smartphone company, to a “distant third place”. With Nokia’s heavy investment in Windows Phone coupled with the Windows Phone OS’ adoption struggles, I’d expect Nokia to continue to plummet.