Apple shares plunge as Samsung Galaxy S3 beats iPhone 4S

<p>Apple’s share price has fallen as its top-seller crown is snatched by Samsung.</p>

Shares in Apple closed lower on the technology-heavy Nasdaq stock index last night (November 8th), after it was announced that main rival Samsung beat the iPhone 4S to the top spot in the third quarter with its Galaxy S3.

The South Korean electronics giant sold 18 million S3s between July and September of this year, according to Strategy Analytics.

This is a climb from the 5.2 million shipped in the second quarter and is a contrast to Apple's iPhone 4S sales for the period, which slipped to 16.2 million from 19.4 million between April and June.

However, Samsung's time at the top is not guaranteed in the fourth quarter, as the launch of the iPhone 5 could boost Apple's sales.

Indeed, Strategy Analytics' Neil Mawston suggested that Apple's sales were subdued as they awaited the arrival of the iPhone's latest incarnation.

When the Nasdaq closed last night, Apple's share price was down by 3.6 per cent to $537.75 and at 09:50 GMT in Frankfurt, Samsung shares were lower by 0.5 per cent to €480.20.

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