The news is out. Apple Inc. overtook Finland’s Nokia Corp. to claim the top spot in handset revenue in the Q1 of 2011, when Apple racked up record sales of its iPhone, according to research and consulting firm Strategy Analytics Inc.
In 2010, Apple was No. 1 in smartphone revenue, taking home 29 percent of the market value, according to Strategy Analytics. Apple had just 16 percent of the total smartphone unit volume in 2010, according to the firm.
The report shows that while Nokia is still a king in volume, Apple beats it in the revenue. In Q1 2011, Apple brought in $11.9b while Nokia raked $9.4b. In the same period in 2010, Nokia had $8.9b to Apple $5.3b. This report shows how far the global recovery has come as the revenue stream of these two firms were impressive over a year-to-year comparison.