Apple Worlds Most Profitable Cell Phone Maker In Q3

Apple has officially dethroned Nokia as the world's most profitable mobile phone maker in this year's third fiscal quarter, according to a report from Strategy Analytics. “We estimate Apple’s operating profit for its iPhone handset division stood at $1.6 billion in the third quarter of 2009,” wrote analyst Alex Spektor. Nokia made $1.1 billion in the same quarter.

“With strong volumes, high wholesale prices and tight cost controls, the PC vendor has successfully broken into the mobile phone market in just two years.”

The iPhone's success is attributed in large part to the large number of applications available in the App Store.

[via GigaOM]