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.
EWY is not an ETF that I would encourage investors to go all in on, though. On the contrary, those interested in wading into this Asian nation should view EWY as a small niche component within an otherwise well-diversified portfolio. Analysts have noted in the past that South Korea boasts a number of developed nation characteristics. However, the country is still considered an emerging market and will likely witness volatility similar to other developing regions in the foreseeable future. Any volatility will likely be magnified by the top heavy structure of EWY's underlying index. Samsung is attractive at this time given the good news surrounding the company's earnings and smartphone dominance. However, we have seen in the past how a concentrated product like this can leave an investor vulnerable to market shakeups. In addition, investors with exposure to EWY will want to keep a close watch on the ongoing trials steering macroeconomic sentiment. South Korea's performance is heavily influenced by its exporting industries. Therefore, in the event that fears reemerge and investors begin to once again doubt global growth prospects, the nation could be in for a rocky ride. As a short term play, the South Korea ETF is an attractive option for investors looking to gain ample exposure to the new king of the smartphone industry. I encourage those interested in EWY to remain flexible, however. Over the long run, there are a number of hurdles to keep a watch on. Written by Don Dion in Williamstown, Mass.