Thursday, November 12th, 2009
Tech researcher Strategy Analytics has crowned Apple the most profitable cell phone maker in the world based on this year’s third quarter profit figures. The report says that Apple earned $1.6 billion to Nokia’s $1.1 billion.
Alex Spektor, an analyst at Strategy Analytics, says that "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." One of the tight cost controls to which Spektor refers is the way in which Apple keeps the mobile expense management of the device pegged to lower manufacturing costs, according to CNET News.
While Finland-based Nokia still ships many more handsets than Apple – 108.5 million to 7.4 million, according to figures from CNET News – Apple only sells the high-end, high-profit-margin iPhone 3G and 3GS, while Nokia produces a number of budget models on which it sees less profit.
Nokia has suffered a difficult 2009, having had to cut jobs and release earnings statements that showed sluggish growth and a nose-dive in revenues.
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