Apple overtake Samsung in global smartphone sales

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Apple according to a new report have overtaken Samsung in global smartphone sales.

Apple Inc sold the most number of smartphones globally in the fourth quarter, overtaking Samsung Electronics Co Ltd for the first time since 2011, according to research firm Gartner.

Apple sold 74.83 million smartphones to end users worldwide, ahead of the 73.03 million phones sold by Samsung, according to the report.

This new development was made possible by the success of big-screen iPhone 6 and 6 Plus which drove Apple's sales in its first quarter ended December 27.

Apple's smartphones sales jumped about 49 percent in the fourth quarter, according to Gartner. In contrast, Samsung, the market dominator since 2011, recorded a nearly 12 percent fall.

In January, the company posted its fifth consecutive quarter of earnings decline in the mobile division.

"Samsung continues to struggle to control its falling smartphone share, which was at its highest in the third quarter of 2013," said Anshul Gupta, principal research analyst at Gartner.

Apple reported a profit of $18 billion for the period, the biggest ever reported by a public company, according to S&P analyst Howard Silverblatt.

Apple also became first US company to hit $700bn in value. The closing price of American multinational corporation, Apple on Tuesday, February, 11 hit above $700bn, making history as the first US company to achieve that.