Samsung May Have Just Become The King Of Mobile Handsets, While S&P Downgrades Nokia To Junk

Samsung has been, for years, slowly approaching Nokia as the world's biggest handset maker, and today looks like the day the crown has been passed: As of last quarter, Strategy Analytics noted that Samsung shipped the most mobile devices of any single manufacturer world-wide, also taking pole position in smartphones. At the same time, Nokia not only slipped in those rankings but it also got another slap in the face, as Standard & Poor's, the credit-rating agency, downgraded Nokia to "junk" status. The news comes on the same day that Samsung presented its Q1 earnings, in which the Korean company reported revenues of 45 trillion won ($40 billion) for the three months that ended March 31 -- citing strong results in the division that includes mobile devices, with especially "brisk sales" of its GALAXY S II smartphone and newer Galaxy Note device.

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