Apple has joined the LTE party quite late with the launch of iPhone 5 in September, but that hasn’t stopped it from gaining a substantial market share of the global LTE device market.

According to a new report from Strategy Analytics, Apple has grabbed 27.5% market share of the global LTE device market.

Samsung continues to top the market with a 40% share of the market, but the launch of Apple’s iPhone 5 seems to have an impact, as the Korean company’s market share slipped from 50.9%. Samsung has topped the LTE market for seven consecutive quarters.

Not surprisingly, Apple’s entry had a significant impact on the market share of other companies as well. LG Electronics saw its market share slip to 9.1 percent, down from 15 percent, while Motorola Mobility claimed 6.7 percent, also slipping from 15 percent.

Apple had not included 4G LTE capable chips in the iPhone as it was concerned about battery life. Apple had to wait for Qualcomm to launch chips that support 4G and 3G on a single chip  so that the LTE feature doesn’t consume too much battery life.

Strategy Analytics expects a major boom in LTE devices with the launch of devices like the iPhone 5 and Samsung Galaxy S3 and expect subscriptions to reach 50 million.