June 20, 2011
Apple has enough cash in the bank to buy virtually the entire mobile phone industryby madhulika
It’s not just the technology that makes the iPhone maker the Godfather of all mobile companies, it’s the cash too. What’s with the moolah-minting Apple Store and such. According to a report published by website Asymco, Apple has in its bank an estimated $70billion in cash, which can buy Nokia ($22.6b), RIM ($13.8b), HTC ($25.4b), Motorola ($4.2b) and Sony Ericsson ($3b) and still have change of $1billion to spare.
The only two companies that the Cupertino based company can’t seem to afford, without taking a loan that is, are Samsung and LG. While the former is valued at $53b, the latter’s worth is $10b. But that doesn’t make the gurus of touchscreen computing any less formidable!