Apple Surpasses RIM in Smartphone War, Profits Rise by 26 percent

Exceptionally high iPhone and Mac sales have helped Apple Inc boost its quarterly revenue and profit even as the US consumers reign in spending amidst the current gloomy economic conditions.

Surprisingly, it was Apple's Emblematic Chief Executive Officer Steve Jobs who came out fighting at the Company's conference call.

Apple's fourth quarter revenue jumped 27 percent with profits climbing by 26 percent year on year, prompting a steep rise in Apple's share price after stock markets close. At the time of writing, it had reached USD 100, a 9.3 percent increase which more than makes up for the 7 percent dive yesterday.

Apple has sold nearly 7 million 3G iPhone 3G this quarter, which meant that Steve Jobs has already surpassed its 10-million target by year's end as almost 13 million iPhones have been sold since its launch.

The phone is on sale in 51 countries worldwide with 19 more to be added by the end of the year, which means that 15-million plus sales is not completely out of the picture.

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In comparison, RIM sold "only" 6.1 million Blackberrys although it rakes in substantial revenues from backend solutions as well.

That said RIM is not going out without a fight and its latest Blackberries are more than a match for Apple's iPhone plus Microsoft could be eyeing the company in a bid to catch up with Nokia and Android.