Samsung Electronics has sold 50.5 million smartphones in the second quarter, which increases their lead over Apple Inc. according to a report by StrategyAnalytics. Samsung now has a 34.6% of the global smartphone market. At the same time Apple suffered a 26% sequential plunge in smartphone sales. Apple retained a 17.8% market share after selling 26 million iPhones in the June quarter according to the report. Nokia has the third spot with a 7% market share after selling 10.2 million smartphones.