Apple Inc Success Reaches Milestones Via iPhone Convergence

This was the first quarter reported since the passing of Apple (NASDAQ:AAPL) co-founder and former CEO Steve Jobs on Oct. 5, and the debut of the newly installed CEO Tim Cook. Though Apple (NASDAQ:AAPL) set several sales records, the story was the iPhone — selling 37M units, far above even the most bullish estimate for 34M. Apple (NASDAQ:AAPL) has become an iPhone company, and Cook is doing his darnedest to make sure the company makes the most of it . But, Apple still has only a minuscule slice of the global phone pie, at just 6%, vs. Nokia’s (NYSE:NOK) 27%. Barron’s Technology Trader columnist Tiernan Ray thinks “Cook & Co.” will continue to crank up the machinery to exploit that opportunity.

Apple (NASDAQ:AAPL) CEO Tim Cook e-mailed employees saying the company is “attacking problems” related to conditions at its supply factories and is committed to educating workers about their rights, reports Bloomberg.

A German court has ruled against a patent infringement claim by Samsung against Apple (NASDAQ:AAPL) for the second time in one week, according to Foss Patents. Both claims involved the patent for a wireless telecommunications standard called 3G/UMTS, the publication noted.

In the fourth quarter, Apple (NASDAQ:AAPL) passed Samsung Electronics Co. to become the world’s biggest smartphone maker thanks to strong iPhone 4S sales, reports the Wall Street Journal. However, data from two research firms showed that Samsung was the biggest smartphone brand for all of last year.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com