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Apple is the largest smartphone maker in the world, has more cash than U.S. Gov


We all knew this day was coming. It was inevitable. And now it is here. Apple has jumped ahead of the crowd and landed itself on top of the heap as the largest smartphone maker in the world based on volume. And it does this by releasing just one new model each year.

Nokia had long since held that crown, but the Finnish firm has come into some serious woes in the last year, getting trounced left and right by Android and iOS. In the second quarter of 2010, Nokia shipped 23.8 million smartphones. In Q2 2011, it only shipped 16.7 million. By contrast, Apple jumped from 8.4 million to 20.3 million over the same time period.

Apple isn’t the only one showing significant growth either. Fueled largely by its Galaxy S and now its Galaxy S II lines of smartphones, Samsung saw a quantum leap from 3.1 million in Q2 ’10 to a whopping 19.2 million units in Q2 ’11. Based on this trend, Samsung could jump ahead of Apple some time in the next year or so.

Nokia is still tops in terms of total cell phones, probably because of its strong presence with cheaper phones for emerging markets, but I’m thinking the guys in Helsinki aren’t exactly dancing for joy at this point. Interestingly, despite only selling iPhones, Apple is fourth in overall cell phone shipments too.  

But get this,  Apple has more cash reserves than the U.S. Government.  The U.S. Treasury Department shows a total cash reserve for the U.S. government at $73.768 billion. Apple’s total cash reserves? $75.876 billion.

About Michael Kwan

A freelance writer and tech geek from Vancouver. Find me at michaelkwan.com and follow me on Twitter @michaelkwan.

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  • Dillz1220

    Everybody has more money than the government.