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Nokia slip slingshots Apple into No.1 spot

Phones like the N8 couldn't save Noka from a terrible quarter

Apple has now overtaken Nokia as the world's leading smartphone manufacturer following this week's massively contrasting financial reports.

On Tuesday, Apple announced that it had sold a staggering 20.4m iPhone handsets between April and June, on the way to record-setting income and profits for the quarter.

Nokia responded on Thursday with a hugely disappointing loss of £323 million for the same period, during which it sold 16.7m handsets - down 32 per cent from one year previous.

That means, for the first time Apple shifted more iPhones in a single quater than Nokia sold handsets making Steve Jobs's company officially the biggest smartphone manufacturer in the world.

The news will be icing on the cake for Cupertino as it already overtaken Nokia in terms of the revenue brought in from the smartphone arm of its business.

Ailing Finns

During the Nokia financial report the ailing Finns also revealed that it had received a one-off payment of $600m from Apple in order to license patented Nokia technology.

As part of a new agreement, Apple will continue to make payments, but it's going to take a lot more than that for Nokia to even think about getting back on an even playing field.

Those Windows Phone-packing handsets surely can't come soon enough.

via AppleInsider