More than half of the smartphones sold around the world from January to March this year were made by Samsung or Apple, with the two tech giants making up more than 90 percent of the profits in the sector.

New York-based ABI Research said that out of total shipments of 145 million units, Samsung Galaxy models accounted for 43 million, followed by Apple's iPhone4S model at 35 million.

Although total shipments saw a 41 percent on-year jump in the first quarter, Nokia posted a 40 percent drop and Blackberry maker Research In Motion registered a fall of 20 percent during the period.

The ABI report added that smartphone manufacturers should seek growth opportunities in emerging countries like China, where shipment growth was over 80 percent.