Apple has more cash to spend than the United States Government

Apple destroyed those rumours and overtook Nokia and Samsung as the worlds biggest seller of smartphones. Apple shipped 20.3 million smartphones between April and June 2011 with Samsung just behind on 19.2 million and Nokia on 16.7 million smartphones.

Analysts were quick to pounce on Nokia, who are fighting fierce competition on all sides. Strategy Analytics report that…

An unexciting touchphone portfolio, inventory corrections in Asia and Western Europe, wavering demand for the Symbian platform and limited presence in the huge US market continue to weigh on Nokia’s near-term performance.

Meanwhile the BBC reports that Apple have more available cash that the whole of the US Government. US Treasury figures show that the USA has an operating cash balance of $73.7 billion, which is £45.3 billion. Meanwhile, Apple shows available reserves of $76.4 billion, which is £46.8 billion.

The US is currently struggling to vote on raising the debt ceiling, which would allow the country to borrow more.

Links – Strategy AnalyticsBBC News