Nokia is now second in the market. Not bad for a company that launched its device only 2-years ago and according to some had “no chance to gain a significant market share.”

People always compare companies according to their market share (i.e., how many devices they sold) but the profit margins are what makes the difference.

On Business Insider,

According to a report from Strategy Analytics, Apple’s operating profit was $1.6 billion on sales of 7.4 million iPhones, generating revenue of $4.5 billion. Nokia’s profit was $1.1 billion on sales of 108.5 million phones, generating revenue of $10.36 billion (€6.9 billion).

Put it another way, for each iPhone sold, Apple makes a profit of $216; Nokia makes a profit of $10 per phone.