Reuters has reported that Apple has blown past Nokia to become the most profitable company in the wireless industry. Apple sold an estimated 7.4 million iPhones, which garnered the Cupertino based tech firm an astounding 5.4 billion USD, all in the third quarter of 2009. Nokia, until recently the top earning dog, sold over 100 million units, but only managed to generate a little over one billion dollars. One reason for Nokia’s higher overhead is the facts that it is forced to not only develop multiple handsets for varying demographics, but work with numerous carriers in many countries around the world. Apple, on the other hand, has been able to concentrate on one product, with only a handful of carriers. It appears that the Apple business model is working and with mobile sales expected to increase dramatically as we exit the global recession, it would seem probable to assume that Apple will maintain its top ranking for many months to come.
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