APPLE OVERTAKES NOKIA AS LARGEST HANDSET VENDOR BY REVENUE

Apple Inc. has overtaken Nokia Corp. as the world�s largest vendor of mobile handsets by revenue, research firm Strategy Analytics said Thursday after both companies released earnings.

�We estimate Apple�s wholesale revenues for its iPhone handset division stood at $11.9 billion in the first quarter of 2011,� Alex Spektor, Senior Analyst at Strategy Analytics said.�Apple overtook Nokia for the first time, which recorded a lower $9.4 billion of wholesale handset revenues.�