File picture shows people holding their mobile phones as they sit on an advertisement of Samsung Electronics' Galaxy S smartphone in Seoul
File picture shows people holding their mobile phones as they sit on an advertisement of Samsung Electronics' Galaxy S smartphone in Seoul Reuters

With the rumoured bigger-screened iPhones to be released soon within the year, Apple Inc may soon overtake Samsung as the world leader in smartphone market share. According to recent data released regarding smartphone sales during the first quarter of 2014, about 279.4 million smartphones were shipped worldwide.

Samsung retained its top spot in terms of market share with 31 per cent followed by Apple with 16 per cent. According to Canalys, Huawei and Lenovo were in fourth and fifth places.

The growing popularity of the "phablet" has threatened Apple with Samsung continuing to release bigger-screened devices. Analysts have observed that there used to be a time when mobile manufacturers wanted to put every technology they can in the smallest device they can make. However, those days may have come and gone or at least temporarily as the current market seems to favour phones with bigger screens without sacrificing price and functionality.

Canalys said smartphones with 5-inch screens have generated 369 per cent growth at a rate higher than the overall market. Phablets made up 34 per cent of total shipments last quarter. Data also revealed that as high as 43 per cent of phones with larger screens were headed to the Asia Pacific.

Analyst Jessica Kwee has observed the growing trend of handsets with bigger screens at the high end of the market. Displays measuring 5 inches and above had 44 per cent market share.

As Apple's WWDC event nears, the speculations about the next generation iPhone will only increase. Reports said many analysts believe Apple Inc could give Samsung a run for its money when it reveals the iPhone 6 with a bigger screen than its predecessor.

After showing investors it is capable of moving stock past $600, Apple's next big move is closely watched by investors. They continue to remain optimistic that Apple shares will continue to soar after the company's WWDC event on June 2. Analysts have raised their price targets for Apple stock, ranging from $650 and to even $700 later on in the year.