Mona Rajhans, BeyondHeadlines
Apple’s iPhone business single-handedly is now superior to the entire Microsoft, current revenue figures revealed.
This integrated the software firm’s pursuit devices such as Xbox, as well as Windows, Microsoft Office along with Windows Phone.
Business Insider that highlighted the figures revealed that Apple sold 37.04 million iPhones, its flagship product, and 15.43 million iPads in the quarter up until December, doubling from a year earlier.
According to the paper, Apple’s stockpile of cash now stands at 100 billion dollars, which could be enough to buy Facebook outright, The Daily Mail reports.
Apple only overtook Microsoft’s market capitalization in May 2010, the first time the company had been ahead of its rival computer company since 1989.
Apple overtook Exxon to become the world’s number one company in terms of market cap in August 2011.
Development of the iPhone began in 2005 with Apple CEO Steve Jobs’ direction that Apple engineers investigate touch screens. He also steered the original focus away from a tablet, like the iPad, and towards a phone. Apple created the device during a secretive collaboration with AT&T Mobility—Cingular Wireless at the time—at an estimated development cost of US$150 million over thirty months.