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Samsung beats Apple in smartphone race

Samsung Exhibit II 4G

(CBS) - Apple is no longer number one. Samsung pulls ahead in the third quarter.

Reuters reports Samsung Electronics Co. has claimed the top spot for smartphone makers between the months of July and September of this year. Apple's shipped 17.1 million units, while Samsung shipped 27.8 units.

According to the Wall Street Journal, Samsung's shipments in smartphones grew by 44 percent worldwide in the third quarter and reported a third-quarter profit of $3.11 billion.

Samsung's success is only mildly surprising, considering that the iPhone 4S was not even announced until October 4. Not to mention, that Samsung has a wide variety of smartphones with a range of price points. However, figures which will include the release of the iPhone 4S haven't been reported yet.

Samsung expects the fourth quarter to be even better, given that demand in general will go up.

"I am cautiously optimistic on the fourth quarter outlook at this point," said Samsung's head of investor relations Robert Yi.

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