"We expect the new iPhone 5 to out-ship Samsung's Galaxy S3 in the coming fourth quarter of 2012 and Apple should soon reclaim the title of the world's most popular smartphone model," Shah said.

The iPhone 4S was introduced in October 2011, and for the phone to reign supreme until August 2012, when speculation surrounding the iPhone 5 was rampant, is nothing short of impressive. The engineering, marketing and advertising teams at Apple have demonstrated their superiority in the smartphone game with sales of its iPhone continually ranking at the top of the sales list.

Cumulatively speaking, Apple continues to hold the smartphone crown, selling 22.2 million iPhone 5 and iPhone 4S devices during the quarter. Apple announced it sold 26.9 million iPhones overall during the quarter, a 58% year-over-year hike.

Samsung can claim the crown for the third quarter, but reports of Apple's death are greatly exaggerated.

Just ask Mark Twain about that one.

Interested in more on Apple? See TheStreet Ratings' report card for this stock.

-- Written by Chris Ciaccia in New York

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