Apple is projected sell 86.4 million iPhones by the end of this year, crushing former market leader Nokia. In 2010, Nokia sold over 100 million smartphones -- more than double Apple's 47.5 million sold -- to lead the market. This year, however, looks like a different story, with Apple expected to climb 82 percent and grab the top spot, and Nokia projected to drop to second place with 74.4 million units sold.

Samsung looks strong in third place, with the highest projected shipment growth in among the big five companies 2011; Lin expects Samsung to ship 67 million units, up 44 percent from last year.

In this game of thrones, it is as much about Apple winning as it is about Nokia losing. Just two days after Apple released their staggering sales and revenue numbers over the last three months, Nokia announced massive losses for the same time period.

This shifting of fortunes for both companies has dethroned Nokia as the leading cell phone manufacturer, and crowned Apple as high king. For now.