Surging smartphone sales enabled Samsung Electronics to report record quarterly profits today, while a research firm estimated that the South Korean electronics-maker shipped 69.4 million smartphones globally during the period, 56% higher than a year ago and almost twice as many as Apple shipped. Analysts also said Samsung is profiting from robust sales of cheaper phones in emerging markets. Samsung began selling its Galaxy S4 today amid reports of shipment delays. "Demand for Galaxy S4 is outstripping its supply," said IBK Securities analyst Lee Seung Woo. In its report, Strategy Analytics said Samsung's smartphone market share grew from 29% to 33%, while Apple's decreased from 23% to 18%.

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