Summary Box: Samsung passes Apple in phones

THE MILESTONE: For the first time, Samsung Electronics Co. shipped more smartphones in the latest quarter than tech industry darling Apple Inc.

BEHIND THE NUMBERS: This may look like a big upset, but it has more to do with timing and Samsung’s variety of offerings and prices. Many people were waiting for the new iPhone, which didn’t come out in time to be included in the numbers.

MORE MONEY: Even as Samsung sold more phones, Apple seems to be making more money on each. That’s one of the reasons Apple is now the most valuable tech company in the world.