Samsung Electronics has outpaced U.S. rival Apple for the first time in terms of profitability thanks to record chip sales.

According to industry data on Thursday, Apple recorded an operating profit-to-sales ratio of 23-point-seven percent in the second quarter, down from 26 percent in the previous quarter.

Meanwhile, Samsung Electronics posted a profit-to-sales ratio of 25-point-four percent during the April to June period to outpace Apple for the first time ever.

The percentage of operating profit out of total sales is an indicator of corporate competitiveness and efficiency in management.

Samsung lagged behind Apple by over ten percentage points in this ratio up until 2016 but the gap began to narrow from last year.

Industry observers forecast that Samsung is likely to continue to post higher profitability than Apple in the third quarter.