Apple’s Success So Huge It Could Purchase Mobile Phone Industry

Apple is almost an iconic name in the tech industry, with its CEO Steve Jobs being almost as famous, and virtually everybody seems to have heard of its leading devices such as the iPhone, Mac computers and iPad. We have news today that Apple is now such a huge success that it could virtually buy its mobile phone competition with its available cash.

If we take into consideration most of its major contenders, Nokia, RIM, HTC, Motorola and Sony Ericsson, Apple could buy all of these rivals with the $70 billion it has available to spend, if it wished. One company that might escape a buyout though could be Samsung, which is currently valued at $53 billion according to Stuart Miles over on Pocket-Lint, sourced from Asymco. However, Apple could still buy the company if it wasn’t worried about the others.

Current valuations of Apple’s rivals are Nokia ($22.6b), RIM ($13.8b), HTC ($25.4b), Motorola ($4.2) and Sony Ericsson ($3b) although if Apple wanted to buy LG as well it would need to find another $10 billion. These are quite staggering statistics and if you check out the Asymco link you’ll find a useful graph that shows just how prominent Apple is in the mobile phone industry. You may also be interested in an article on Bloomberg Businessweek, which looks at Apple’s absence from the Dow index.

We’d be interested to hear what you think about Apple’s huge amount of cash in the bank ready to spend so let us have your comments on this.