Samsung has overtaken Apple to become world's largest smartphone vendor. Samsung and Apple together captured more than half of global smartphone shipments for the first time ever, according to the latest research from Strategy Analytics.

Samsung's global smartphone shipments rose 253 percent annually to 44.5 million units, as demand surged for its popular Galaxy models such as the Note, S2 and Y.

The research said global smartphone shipments grew 41 percent annually to reach 145 million units in the first quarter of 2012.

Neil Mawston, Executive Director at Strategy Analytics, said, "Apple shipped 35.1 million smartphones worldwide and captured 24 percent marketshare, as volumes strengthened in key countries such as China, United States and Japan. Samsung and Apple combined now account for more than half of global smartphone shipments for the first time ever. Samsung and Apple are outcompeting most of their major rivals and the smartphone market is at risk of becoming a two horse race."

Tom Kang, Director at Strategy Analytics, added, "Nokia maintained its position as the world's third largest smartphone player, but its global share fell from 23 percent in Q1 2011 to just 8 percent in Q1 2012. This is Nokia's lowest marketshare level in the smartphone category since 2002. Nokia's new Microsoft Lumia portfolio has recently gotten off to an encouraging start in the critical United States market, but shipments there are not yet large enough to offset the firm's tumbling Symbian volumes in the rest of the world."