Apple is world’s most profitable handset maker
Nokia (NYSE:NOK) may still claim the largest global market share, but Apple (NASDAQ:AAPL) has overtaken it as the world?s most profitable handset vendor in the third quarter of 2009, according to Strategy Analytics. The one-handset wonder pushed Nokia into the no. 2 slot, as Nokia?s margins were hit hard by both the economic downturn and a stagnant presence in the U.S.
The firm estimates that Apple?s iPhone operating profit came in at $1.6 billion in Q3, while Nokia recorded only $1.1 billion in operating profit. ?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 analyst Alex Spektor in the research note.
(EDIT - had to run the URL through bit.ly to make it work - arrant apostrophe was breaking the link)[ Edited: 10 November 2009 04:50 PM by John Molloy ]
Great news! I still cant believe Timmy Seymour is still pushing people to get into Nokia…....