Apple is back on top as the iPhone 5 has picked the title of the world’s best selling smartphone. According to a recent report from Strategy Analytics, Apple’s sixth generation smartphone beat top competitor Samsung’s Galaxy S3 during the final quarter of 2012. Interesting enough, the S3 sits at third place, while Apple’s iPhone 4S took second place.

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Last quarter, the iPhone 5 sold a total of 27.4 million units, a number that’s larger than Australia’s entire population. That same quarter, the iPhone 4S sold 17.4 million units. Collectively, these sales make up the one in five of all smartphones shipped during the last quarter and gives them a twenty percent share of the market.

The sheer number of sales in the smartphone market all over the world reached a total of 217 million, a large jump from the previous number 172 million.

Neil Mawston from Strategy Analytics reported in a recent statement, “Apple’s iPhone 5 and iPhone 4S together accounted for 1 in 5 of all smartphones shipped worldwide in Q4 2012. This was an impressive performance, given the iPhone portfolio’s premium pricing.”

Despite Samsung’s fall, there is no doubt that the company will rise again. Next month, Samsung is expected to release the Samsung Galaxy S4.

Mawston continued, “Samsung’s Galaxy S3 has long proven wildly popular with consumers and operators across North America, Europe, and Asia. However, global demand for the Galaxy S3 appears to have peaked and Samsung will surely be keen to introduce its rumored Galaxy S4 upgrade in the coming weeks to fight back against Apple’s popular iPhone range.”

Both the iPhone5 and Samsung’s Galaxy S3 have paved the way for modern smartphones. These devices set the standards in everything from design  to technology features.

Apple is expected to release the iPhone 5S or iPhone 6 sometime this year. If the rumors are correct, we might see an array of colorful iPhones and maybe an iPhone Mini soon.