Samsung has become the number one mobile phone brand in terms of shipments.

According to IHS iSuppli, the firm shipped 92 million handsets globally in the first quarter of 2012 taking top spot from Nokia which shipped 83 million. Both firms saw a decline in growth compared to the last quarter of 2011 when Samsung shipped 106 million units and Nokia shipped 114 million.

Wayne Lam, senior analyst at IHS said: "With cellphones now accounting for more than 40 percent of Samsung’s overall revenue, it’s clear that the company’s continued investments in smartphone hardware and software R&D [research and development] are paying off."

IHS Samsung cellphone shipments

Apple came in third behind Nokia and Samsung for global shipments with LG and Research in Motion coming in fourth and fifth, respectively. However, Apple came out top of the pile in terms of smartphone shipments.

The firm shipped 35 million units of its iPhone compared to Samsung's 32 million of its smartphones with both seeing a decline compared to Q4 of 2011. However, IHS said smartphones are the only segment of the global cellphone business expected to expand in 2012 - increasing by 35 percent.

IHS Samsung smartphone shipments

Samsung will be taking aim at Apple's smartphone crown with the launch of its next Galaxy device. The company is expected to unveil the Galaxy S3 next week which will rival the iPhone 4S. Take a look at our Samsung Galaxy S3 release date, specs and rumour round-up for the latest information.