ETF for New Smartphone King

NEW YORK ( TheStreet) -- Samsung released its quarterly earnings performance report on Friday, and on the surface the numbers were decent. Despite seeing an earnings dip over the past three months, the company managed to beat analyst expectations.

Digging deeper, however, investors can uncover some impressive news regarding the firm's smartphone division. Although Samsung is still considered a relative newcomer to the industry, the company's products have taken off in popularity.

In fact, over the past quarter, Samsung managed to usurp the throne from Apple ( AAPL) to become the world's leading player in the industry, with 24% market share. According to a Reuters report, Samsung shipped nearly 28 million units over the past three months, handedly outpacing Apple's 17 million units.

This shakeup is exciting, and it will be interesting to see if Samsung can maintain its position at the top over the long run. In the near term, there are ways investors can target the new king of the smartphone industry.

For ETF investors looking for ample exposure to the Korea-based conglomerate, few products can compare to the iShares MSCI South Korea Index Fund ( EWY). This fund is designed to provide investors with broad exposure to the South Korean marketplace, spreading its assets across a pool of more than 100 different names across the market spectrum.

Companies like Hyundai, Posco ( PKX) and Shinhan Financial Group ( SHG) each represent respectable slices of the fund's index. However, Samsung Electronics is the firm that will likely drive much of the fund's day-to-day action over time. Alone, this company accounts for more than 17% of the fund's assets.

Like many other nations, South Korea's marketplace struggled in August and September as the European crisis and fears of a Chinese hard landing weighed heavily on investor confidence. As global fears have waned over the past month, however, shares of EWY have had an impressive rebound. Since the start of October, the fund has been on a steep upward trajectory, breaking through to levels last seen in early August.

This action has aided the fund's positioning within our short-term momentum rankings. News of Samsung's newfound dominance in the smartphone industry may be enough to fuel the fund higher in the days ahead.

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