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Both Apple (news, site) and Nokia (news, site) have reported their financial quarterly figures, can you guess which one is the happier?

Apple Happy as Pie

Apple's quarterly figures have staggered the mobile industry, primarily by doing really, really well despite less-than-expected iPad sales. This one weak point was due to buyers first waiting for the iPad 2, hitting iPad 1 sales, despite the price drops, and then having limited supplies of the new model tablet.

The company now sees over 50% of its profit come from the iPhone and makes a staggering US$ 660 on each iPhone compared to around US$ 300 for a RIM BlackBerry device. The overall figures showed the company earned almost US$ 25 billion in revenue (in the quarter -- the actual figure is US$ 24.67 billion) on sales of 4.69 million iPads, 18.65 million iPhones and 3.76 million Macs.

This was the first time that Apple's Q1 figures have beaten its Q4 figures which include the vital Christmas season, another reason that financial types were so staggered by the performance. The next quarter's predictions are a little lower, but expect things to go ballistic again when the iPhone 5 launches in September.

Nokia Not That Off

While Apple gets excited about its billion dollar cash pile, no one should write off Nokia which is still the world's largest maker of mobile phones. While profit dropped by 1.4%, sales were on the rise at 10.4 billion euros (US$ 15.1 billion) and with the Microsoft deal in the bag, it will be hoping for big things in the future.

The big difference between the two companies is the average Nokia phone sells for US$ 65, way way down on what most smartphones sell for, and what are people buying these days? Even though Nokia's basic and features phones are big sellers in emerging markets, they have to sell lots and lots of them to recoup what Apple makes from an iPhone sale, and Nokia doesn't make money on the apps/music and media side.

Nokia Loves Windows

The pressure is on Nokia to start delivering Windows Phone 7 devices as soon as possible to revive both companies' fortunes in the smartphone market. When it arrives, it will offer Nokia's smart mapping features and come with Bing search, to demonstrate that the partnership is picking the best features of each ecosystem.

Will these devices boost their fortunes? We will have to see but with Apple and Android rocketing in the smartphone market and RIM entering the tablet market with the launch of its PlayBook, there are immense challenges for two mid-field runners to overcome.