Samsung sold twice as many smartphones as Apple last quarter - IDC

UPDATE Oct 28: According to a report by market research IDC, Samsung shipped 56.3 million smartphones during the September quarter - twice as many as Apple, which sold 26.9 million iPhones.

The Korean company reported a $US6 billion profit for the quarter on revenue around $US47 billion as strong smartphone sales were partially offset by weakness in its chip business.

Samsung did not break out unit sales for smartphones (although it has said it expects to sell around 30 million of its premium Galaxy S III this year); IDC has estimated from market surveys (and, unlike Apple's report which is based on sales, IDC guesstimates the number of handsets moved to retailers).

The results also illustrates, in part, the growing persuasiveness of smartphones.

Last month for example, Vodafone NZ moved ot all smartphone sales. With a basic smartphone under $100 off contract, there was no point in stocking so-called "feature phones," country manager Russell Stanners told NBR.

For now, Apple is sticking with its premium pricing smartphone model - which helped it top Samsung in profit $US8.22 billion to $US6 billion in the three months to September.

Apple profit up 24% - but below expectations

Oct 26: Apple this morning reported third-quarter profit rose 24% over the year-ago period to $US8.22 billion or $8.67 a share, a little off the analyst consensus of $8.75.

Revenue increased 27% over the year-ago quarter to $US35.97 billion, slightly ahead of expectation.

iPhones sales accounted for $US17.13 billion or 48% of revenue.

Apple shares [NAS:AAPL] which have fallen of their all-time high of $US702 since the iPhone 5 was released on concerns over shortages (see chart above right), fell 1.18% to $US609.54 in after-hours trading.

The company also updated on its product sales stats for the quarter, which were:

• 26.9 million iPhones in the quarter (a 58% increase on the year-ago quarter, but off its all-time high of 35.1 million recorded in its March quarter)
   
• 14 million iPads (a 26% increase against the year-ago quarter, but 17% down on the prior quarter, and below analysts' estimates of about 15 mllion)
   
•  5.3 million iPods (a 19% decline from the year-ago quarter)
   
• 4.9 million Macs (a 1% increase on the year-ago quarter)

The new iPhone 5 was released on September 21, just nine days before the quarter closed.

Apple said it sold 4 million of the device during its first three days on sale, but has since been hit by shortages as it struggles to keep up with demand.

On an earnings call to discuss results, CEO Tim Cook flattered Microsoft with attention, taking time out to slag its Surface tablet released earlier today.