The big boy of the mobile phone world has had to step down a notch as it now has to be satisfied with only second place when it comes to the profit stakes, as the word is Apple and the iPhone has knocked Nokia off the number one spot for profitability.

Of course Nokia still rules the roost when it comes to market share but market share and profit isn’t the same thing, so Apple now takes the lead according to figures from Strategy Analyst reports the iPhone blog.

The figures claim Apple’s one and only iPhone operating profit bumped up some 1.6 billion bucks in the third quarter while the Finnish giant recorded just 1.1 billion in operating profit; this shows that the iconic handset is still doing well.

With high profit margins it means there is more money for Apple to reinvest into their iPhone tech and that means more iPhone goodies in the future which can only be a good thing for future iPhone customer’s right?