Apple to open up to 50 new stores in 2010

Apple says it plans to open up to 50 retail stores in 2010 after Apple...

Apple says it plans to open up to 50 retail stores in 2010 after Apple stores posted a record revenue of $1.87bn in the third quarter, up 9% on the previous year.

More than half the new stores will be outside the US, including the UK, France, Germany, Australia and China, according to reports.

Apple has surpassed rival Nokia to become the most profitable mobile handset supplier for the first time, according to research firm Strategy Analytics.

Apple's third quarter operating profit from iPhone sales was $1.6bn, compared with Nokia's $1.1bn from its handset division.

Nokia is battling increasing competition from Apple's iPhone, Research in Motion's Blackberry and Motorola's Droid to keep its dominant position in the smartphone market.

Nokia's share of the smartphone market fell six percentage points to 39.3% in the last quarter, while Apple's share grew to 17.1% compared with 12.9% a year earlier, according to research firm Gartner.

Photo courtesy of Apple

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