Apple may make only one smartphone, but that didn't stop the company from surpassing Nokia as the world's most profitable handset maker according to Strategy Analytics. While Nokia cranked out US$1.1 billion in operating profit for the third quarter, Apple's iPhone landed some $1.6 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," commented Strategy Analytics analyst Alex Spektor.
Nokia managed to slip to the number two slot thanks in part to lower margins from the weak economy and a lackluster presence in the United States, according to Telephony Unfiltered.
While Nokia may be trailing Apple in profits, it still ranks as the top mobile phone maker with the largest marketshare at 37.9 percent. Maintaining that marketshare, however, may be a challenge for the company since the iPhone is still coming on strong, and interest is growing in Google Android-based phones.