Free Ride for Apple?

"The basic principle in the mobile industry is that those companies who contribute in technology development to establish standards create intellectual property, which others then need to compensate for," said Ilkka Rahnasto, vice president for legal and intellectual property at Nokia.

"Apple is also expected to follow this principle," Rahnasto added. "By refusing to agree [to] appropriate terms for Nokia's intellectual property, Apple is attempting to get a free ride on the back of Nokia's innovation."

Nokia, Apple and the Courts

One new factor that could possibly impact the money Apple makes from iPhone sales is a lawsuit Nokia launched last week.

Nokia filed a complaint against Cupertino in the Federal District Court in Delaware alleging that the iPhone infringes 10 of its patents for various wireless standards. Nokia says the patents cover wireless data, speech coding, security and encryption, and it claims they are infringed by all iPhone models shipped since the device was introduced in 2007.

The lawsuit is an attempt by Nokia to slow down the iPhone's runaway market growth, contended Julien Blin, CEO and principal analyst at JBB Research. "Nokia's share of the smartphone market just took a big hit, falling from 41 percent to 35 percent," he told MacNewsWorld. "The timing might not be a coincidence at all, especially after Apple reported a great quarter."

As further proof of his suspicions, Blin pointed out reports that suggest Apple has been working with Nokia for at least 12 months to hammer out a patent agreement. "Nokia is better off dealing with its own issues rather than trying to slow down Apple, because it's unlikely to succeed," Blin added.

"The lawsuit will take years," agreed Broadpoint AmTech's Marshall. "Nokia is probably using some of Apple's patents as well, so expect a counter-suit soon."

Most importantly, the lawsuit won't impact the market. "It won't scare away investors," Marshall said. "I view it as a minor inconvenience."