Apple Moves to No. 1 in Handset Revenue

Apple Inc. overtook Finland's Nokia Corp. to claim the top spot in handset revenue in the first quarter,. Apple racked up record sales of its iPhone, according to research and consulting firm Strategy Analytics Inc. Alex Spektor, a senior analyst at Strategy Analytics said in a statement issued by the firm that Strategy Analytics estimates that Apple's wholesale revenue for its iPhone handset division hit $11.9 billion in the first quarter, passing Nokia for the first time. Nokia had first quarter handset revenue of $9.4 billion, Spektor said. "With strong volumes and high wholesale prices, Apple has successfully captured revenue leadership of the total handset market in less than four years," Spektor said. "In revenue terms, Apple is now the world’s largest handset vendor, smartphone vendor and tablet vendor," said Neil Mawston, director at Strategy Analytics. Mawston said Apple's proprietary ecosystem of hardware, software and services has proven wildly popular and hugely profitable, but warned that rivals are chasing hard, particularly the Android vendor community. Strategy Analytics estimates that the global base of Android smartphones will eclipse Apple's by the end of 2011. "Nokia is also investing heavily with Microsoft and Apple will be a key target for them next year," Mawston said.