Apple has apparently put another feather in its cap. According to a report released today from Strategy Analytics, the company emerged from the third quarter 2009 as the world’s most profitable handset vendor.

Strategy Analytics said Apple’s handset division recorded $1.6 billion in operating profits for the quarter, beating out second place Nokia, which came in at $1.1 billion

“With strong volumes, high wholesale prices and tight cost controls, the PC vendor has successfully broken into the mobile phone market in just two years,” stated Alex Spektor, analyst for Strategy Analytics, in a press release.

The report said that Nokia’s profit margin for its handset division has been shrinking, suffering primarily from a lack of presence in the United States. The company believes that a competitive play in the U.S. could help revitalize Nokia’s margins.

Meanwhile, Android has come on strong. Bloomberg yesterday released estimates that said Motorola may have sold over 100,000 Droids this past weekend. The Droid has received favorable reviews, as well as comparisons to the iPhone.

Many believe some form of Android could emerge as the first viable competitor to the iPhone. Gartner recently published research that predicts Android will overtake Apple in market share by 2012. Gartner said that by 2012, the top 3 platforms globally will be Symbian, Android and RIM, respectively.