Apple is the second largest company in the world and, for a time leading up to the debt crisis, it had more money in the bank than the federal government. Much of that is due to the incredible success of its iPhone, which has come to dominate the smart phone market.
In 2Q 2010, Apple sold 8.4 million iPhones, but that number has soared over the past year, so that by 2Q 2011, the company reported selling 20.3 million units, an increase of over 140 percent. This accounts for a 20 percent share of the global iPhone market.
Following Apple was Korean-based Samsung, which sold just 3.6 million smart phones in 2Q 2010 but 17.3 million in 2Q 2011, an increase of 380.6 percent. HTC’s growth percentage also topped Apple’s, going from 4.4 million in 2Q 2010 to 11.7 million in 2011, an increase of 165 percent.
The biggest loser was Nokia, which dominated the market in 2010 with 37.3 percent of all units sold. This has dropped precipitously in the last year, to just 15.7 percent, placing it behind Apple and Samsung. It was the first time their smart phone sales dropped below 20 million since 3Q 2009.
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