Apple is now the largest mobile phone manufacturer by revenue

Posted by Unknown on Sunday, January 23, 2011

Based on revenue, Apple is now the largest mobile phone provider in the world, surpassing even global leader Nokia. In the winter quarter of 2010, the iPhone and its accessories generated revenue of $10.47 billion for Apple. Nokia's Devices & Services group projects Q4 2010 sales of $11.7 billion, but this figure includes mobile computers, tablets and revenue from Ovi-branded services. Ovi offers email, music, navigation and an app store for Nokia handsets. When you add in just Apple's iTunes revenue of $1.4 billion, Apple jumps ahead of its biggest mobile phone rival.

Apple's mobile phone business is growing at a pace that even exceeds that of the overall smartphone market. Recent IDC estimates suggest the global smartphone market grew 70% in December, while Apple boasts of a 86% year-over-year increase. While its popularity among consumers remains strong, the iPhone' s influence in the corporate world is also growing. Apple chief financial officer Peter Oppenheimer confirmed that "88 of the Fortune 100 companies and almost 60% of the Financial Times Europe 100 companies [are] now testing or deploying iPhones." This expansion in Europe is most damaging to Nokia, which has dominated the European market for the past several years running. Apple's growth is unprecedented already, and it shows no signs of slowing down any time soon.

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