Samsung's flagship device, the Galaxy S3, has wrested the top smartphone mantle away from Apple's iPhone 4S to become top-selling U.S. smartphone in August.

"This is the first month since the iPhone 4S launched in October 2011 that it was not the top-selling smartphone in the U.S. market," stated Canaccord Genuity analyst T. Michael Walkley, according to a CNET report.

The iPhone 4S was launched in 2011 on carriers AT&T, Verizon Wireless, and Sprint. After the launch, the Apple smartphone established a stronger presence and was sold on other carriers as well. Since its launch, the smartphone has maintained its stronghold the in the U.S., becoming the best-selling mobile phone ever.

Tech experts opine that the data is not reflective of the underlying dynamics that have contributed to Apple's sales declines. The most valuable tech company in the world is said to be preparing for its fabled iPhone 5 launch on Sept. 12, which has impacted current sales as consumers hold out for the anticipated device.

Additionally, Apple, who'd stayed mum all this while, has finally made the event official and sent out invites on Sept. 4. Even though the Cupertino-based company did not disclose the event details, the invite's design suggests that the iPhone 5 launch is in the cards.

Pitched as "the biggest product launch in consumer electronics history," the iPhone 5 will likely throw the gauntlet to Galaxy S3 in a bid to reclaim its top spot.