Apple Inc. Richer Than The United States Government ?

It is a well known fact that Apple Inc. has cash reserves more than any other company but the fact that it is even richer than the United States Government is absolutely fantastic.

Recently Apple announced that its earnings have reached $76 billion due to large sale of its iDevices. The iPhone and the iPad are the most popular products of the Cupertino, California based company.

On the other side, as the deadline to the US debt approaches close, the Treasury Department of United States Government has reported that its bank account has even less than $74 billion and could become zero by early August.

This only shows that the American government and the Corporate America are two worlds apart. While the corporations continue to grow and their combined profits accumulate around $1.2 trillion, the government consistently has lost its cash reserves and its debts are increasing day by day.

According to Apple, these cash reserves will help the company to secure its future as it will ensure that they do not run into any financial trouble like the company had to face during the launch phase of the iPhone 4.

So, should American government start selling the iPhone and the iPad or should Apple take over the running of Washington DC?

Photo Courtesy of Chris and Kris
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HTC To Appeal Apple Patent Ruling

HTC is going to appeal a ruling by a United States trade body which accuses it for the infringement of two patents held by Apple Inc. Last year, Apple filed a complaint against HTC with the US International Trade Commission accusing it of violating ten patents related to the iPhone.

HTC said that it will “vigorously fight” these two remaining patents through an appeal before the ITC commissioners who make the final decision. According to HTC, it will use “all means possible” to defend itself.

HTC general counsel Grace Lei said in a statement that, “We strongly believe we have alternate solutions in place for the issues raised by Apple. We look forward to resolving this case.”

The patents which, according to Apple, were violated by HTC deal with how the phone handles data sent to it from other devices over a network and how a device opens an e-mail.

HTC continues to deny all allegations of Apple over its patents and is seriously planning to protect its intellectual property which has been targeted by the American giant since last year.

As the competition in the smartphone market is on increase, more patent related disputes in near future won’t come off as a surprise.

What do you guys think?

Photo Courtesy of John.Karakatsanis
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