Apple Richer Than US Government: World’s No.1 Smartphone Seller

Things are looking as good as ever for Apple, not only did they recently post record profits in their quarterly reports, they have also been dubbed the world’s largest smartphone vendor by an analyst firm. The Cupertino based firm have been so profitable from sales of their products that they now have more available cash than the US government.

Steve Jobs and his huge operation brought in $7.31 billion of net profit in the third quarter, selling a record 20.34 million iPhones and 9.25 million iPads. The technology titan has now ousted struggling Nokia as the world’s largest smartphone seller. Apple now has an 18% majority market share, with Nokia falling further down the rankings to 3rd with a 15% share. Can they make a recovery with Windows Phone? Mango is ready to go.

According to Mashable, Samsung has moved up to 2nd in the smartphone sales chart with a 17% market share. The Korean outfit reportedly grew a staggering 520% annually, with a large part of their success being thanks to their Galaxy range of smartphones and tablets. The Samsung Galaxy S II is a smartphone we speak about on a regular basis as it is very sought after in the US. After months of waiting Americans will be happy to hear it will launch in the US in August, as confirmed by the Samsung president.

Apple have still kept the launch date of their mythical iPhone 5 under tight wraps, although it is widely expected to be in September at the same time as their iOS 5 release. Many have suggested the delayed US launch of the Galaxy S II is so that the 2 smartphones can go in a direct battle together. There are leaked images going round today which is possibly of the iPhone 5, as well as big rumors that the iPad 3 will launch on Black Friday.

The Next Web reports that Apple’s cash reserves stand at a mountainous $75.876 billion, where the U.S. Treasury Department has revealed that the Government now has a total operating balance of $73.8 billion. It is amazing to think that a business has more money than one of the largest and leading nations on the planet. Just for fun, maybe Steve Jobs should buy a whole country and take his company’s operation over there, Apple Island anyone?

Just to end things on a further positive note, the value of Apple’s stock rose up to $400, with market capitalization reaching over a staggering $363 billion. This makes Apple the 2nd largest company in the world, above Google but behind Exxon Mobil. Things are only going to get better for Apple and it is mind blowing to think how powerful they are becoming and how much influence they have on the world.

  • Anonymous

    There are to many iNaive’s in this world, especially in this country. Too much iNaiveisim out there…..
    That’s going to change though over the next year or two, and I’m very happy about it.