Apple's iPhone Sales Grow 142%, 12 Times The Global Market Rate

Apple's recent record financial results, were largely thanks to its unrelenting iPhone sales. The figures are mind blowing: iPhone shipments increased by 141.8 per cent year-over-year, meaning that Apple reported a growth rate that is 12 times the global mobile phone market in Q2.

The global mobile phone market grew just 11.3 percent year-over-year, however Apple played a significant part in that figure too; without adding Apple's percentage, the worldwide market only grew by 7.8 per cent.

The record sales helped Apple not only sustain its fourth position in the market, a place it achieved in the previous quarter, but even boosted the company extremely close to the third place handset producer LG, whose shipments have dropped 18.9 per cent, with just 24.8 million units sold.

Scandinavian giant Nokia has succeeded in holding on to first position, even if the company is presently going through some rough times - with 24.2 per cent of the market share and 88.5 million units shipped, 20 per cent less than a year ago. The other top mobile vendor, ranking second, is Samsung, who managed to grab 19.2 per cent of the market.

It seems that the rather unsuccessful period some companies, such as Nokia and LG, are facing, is mainly due to the shrinking feature phone market, falling by 4 per cent year-over-year. However, that phenomenon won't be of concern to Apple, given its record sales for the iPhone 4, despite a fifth generation iPhone model thought to be looming.