Samsung shipped 18 million units throughout the quarter, handing the device a market share of 10.7 percent - up from 3.5 percent in the previous quarter.
In comparison, Apple's iPhone 4S saw shipments fall to 16.2 million units and a share of 9.7 percent.
The reason? Shipments were curbed by the launch of its successor, iPhone 5.
Devil in the detail
Indeed, combined, Apple's two latest iPhones out-shipped the Galaxy S III by some distance, coming in at a total of 22.2 million units.
Nonetheless, senior analyst at Strategy Analytics Neil Shah said Samsung's surge shouldn't be dismissed.
"The Galaxy S3 captured an impressive 11 percent share of all smartphones shipped globally and it has become the worlds best-selling smartphone model for the first time ever," said Shah.
"A large touchscreen design, extensive distribution across dozens of countries, and generous operator subsidies have been among the main causes of the Galaxy S III's success."
Longterm, executive director at the firm Neil Mawston added he expects its position as top dog to be "short lived", with iPhone 5 likely to out ship Samsung's device in Q4 2012.
[source: Strategy Analytics]