Apple The Most Profitable Phone Company In The World

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New research has revealed that Apple is now the most profitable phone Company on the planet. They replace Nokia who has seen both profits and marketshare fall this year.

New research has revealed that Apple is now the most profitable phone Company on the planet. They replace Nokia who has seen both profits and marketshare fall this year.

According to Strategy Analytic Apple generated the highest total operating profit in the industry in the third quarter, when they a record 7.4 million iPhones.

“With strong volumes, high wholesale prices and tight cost controls, the PC vendor has successfully broken into the mobile phone market in just two years,” said Alex Spektor, analyst at Strategy Analytics.

Reuters said that Apple does not unveil profits per business line, but Strategy Analytics estimated Apple’s operating profit for its iPhone handset unit stood at $1.6 billion in the third quarter, compared with Nokia’s $1.1 billion.

Apple has said sales value of iPhones sold during the July-September quarter was $4.5 billion.

Nokia sold 108.5 million phones in total in the same quarter, generating sales of 6.9 billion euros ($10.36 billion) but its profits were hit by the economic downturn and a stagnant presence in the United States.

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