1. Cell Wars

    Samsung Overtakes Nokia

    A logo of Samsung Electronics is seen on the glass door of its showroom in Seoul on April 27, 2012. South Korea's Samsung Electronics reported a record net profit of 5.05 trillion won (4.44 billion USD) in the first quarter, thanks largely to strong smartphone sales. AFP PHOTO / JUNG YEON-JE        (Photo credit should read JUNG YEON-JE/AFP/GettyImages)

    Jung Yeon-Je, AFP / Getty Images

    For the first time, Samsung has overtaken Nokia as the world’s biggest maker of mobile phones, ending the Finnish company’s 14-year run. According to an industry study, Samsung shipped 93.5 million handsets in the first quarter of 2012, 36 percent more than a year earlier. Nokia shipped 82.7 million, researcher Strategy Analytics said in a statement Friday. Samsung posted a $4.5 billion first-quarter net income today, while Nokia reported a $1.8 billion first-quarter operating loss because of a sales slump.

    Read it at Bloomberg