They are in the homestretch, with Apple iPhone inching forward, they are nose to nose now, no, wait, they are passing, yes they are passing Nokia, and pulling away in the lead, and it is Apple for the win in profits over Nokia in the most recent financial quarter. This is the latest race in a competition that has been remarkably close for some time.
Competition between Apple Corporation and Nokia Corporation for the top profit in cell phone sales has been very close in recent times. The second quarter of the year 2009, saw Nokia's income around $1.1 billion, and Apple's estimated income for their popular iPhone was just $1 billion. Apple iPhone cellular phone profits at one point had been trailing behind Nokia's by approximately $100 million before they surged into the forefront and took away the lead.
These two rival companies have both produced some impressive new cell phones, but Nokia perhaps had the advantage having been producing cell phones for considerably longer than Apple who just hit the market a little more than 2 years ago. The only phone that Nokia produced that seemed to compare favorably against the popular iPhone was the Nokia 5800, but the price difference was quite noticeable with an Apple costing around $250 to $300 while the Nokia commanded a price of $600.
Nokia has been coping with some tough times, though they have continued to fare quite well in Europe. The company has had to cut expenses due to issues with the global economy, and has had to lay off many employees.
With the new crown as the top most profitable players in the business of cellular phones, Apple is moving forward and making its mark, but is unlikely to really phase Nokia, a huge company that is going to remain a serious competitor and continue to grow in the ever expanding technological world of cell phones.