While increasing market saturation and fierce competition in the smartphone space may be a concern, the latest market share stats from IDC show no evidence of both Apple and Samsung slowing down. Numbers published for the first quarter of the year show Apple closing the gap between itself and the rather dominant Samsung.

The stats show that while Samsung shipped more smartphones than Apple (60m to 43.7m), the iPhone maker did managed to score its largest volume shipped in a quarter, smashing the 40 million milestone. That and Apple has managed to fend off against other rivals, including Huawei (13.7m), Lenovo (12.9m) and LG (12.3m). Though that's not counting the 113.9 shipments by manufacturers grouped into the "other" category.

Although Samsung's volume of shipments increased significantly year-on-year (up from 69.7 million in Q1 2013), its market share fell slightly from 31.9 percent to 30.2 percent, it's also reported that Apple experienced an increase of 16.8 percent on Q1 2013; like Samsung, its overall market share fell from 17.1 percent last year to 15.5 percent this year.

Chinese phone makers Huawei and Lenovo also saw strong year-on-year gains, increasing shipments by 47.3 percent and 63.3 percent respectively. And spurred by strong LTE smartphone sales, LG captured 4.4 percent market share. The Korean manufacturer recently revealed that it shipped 5 million LTE-equipped handsets in the first quarter of the year.

Source: IDC