Another stunning quarter for Apple recording a massive increase in profits thanks to the dominance of Apple's iPhone. Sales for its fiscal 2011 third quarter, ended 25 June 2011, increased 82 percent year-on-year to US$28.57 billion and profit was up 125 percent to US$7.31 billion. Apple sold 20.34 million iPhones in the quarter, representing 142 percent unit growth over the year-ago quarter.
Sales of the iPhone mean that Apple will almost certainly have passed the formerly dominant Nokia and will be battling Samsung for the title of the world's largest smartphone vendor by volume. Gartner believes that Apple could overtake LG by the next quarter and become the third largest mobile phone vendor worldwide.
Its a phenomena growth to the top for Apple with just one device where as other manufacturers had to spend so much effort coming up with with various designs and models. Its a game-changer and iPhone had definitely turn the table for the industry and at the present moment its a huge catch up game for many and I dont reckon this is going to change for the short to mid-term. With iPhone 5's launch not too far away, its definitely going to be another record breaking year for Apple.