iPhone manufacturer Apple has usurped Nokia to become the world’s most profitable mobile phone company, a new report shows.
According to figures from Strategy Analytics the launch of the iPhone 3G S helped Apple’s mobile phone division to post third-quarter profits of 1.6 billion dollars.
Nokia’s handset unit, meanwhile, was in second place with profits of 1.1 billion dollars.
Report author Neil Mawston, however, remained upbeat that Nokia could recover pole position in months to come.
He stated: “Nokia’s profit margin for its handset division has been shrinking during the global economic downturn in 2009.
“We believe the United States, where Nokia now trails Apple in market share, is the key to Nokia’s recovery in 2010.”
News of the shifting positions in the sector come as Nokia is pinning its hopes of a bumper Christmas on its forthcoming N900 smartphone.
Due for release November 16th, the handset’s chief selling points are a powerful processor and 1GB of dedicated application memory that promises to allow users to access multiple apps simultaneously.