Samsung trumps Apple sparking calls for low-cost iPhone

Samsung has taken Apple's crown as the world's most profitable mobile handset vendor, according to new research, as analysts called on Apple to release a low-cost version of the iPhone to boost its global growth.
Samsung's operating profit for its handset division stood at $5.2 billion in the second quarter of 2013, according to research firm Strategy Analytics, compared to Apple's estimated iPhone operating profit of $4.6 billion. It marks the first time the Korean firm has overtaken its U.S. rival.
"Apple's reign as the world's most profitable handset vendor lasted almost four years, from [the third quarter of] 2009 to [the first quarter of] 2013," Neil Mawston, the executive director at Strategy Analytics, said on Friday. "Apple's profit margin for its handset division has been fading recently due to lackluster iPhone 5 volumes and tougher competition from rivals."