Last week we covered the analyst accounts that Apple's iPhone was more profitable than Nokia's handsets. Since Apple makes high margin on one premium phone, while Nokia has a range of featurephones and smartphones, including low-to-no margin ones, it didn't seem too unlikely. Joe Wilcox, however, broke out his abacus and begged to differ, saying no they weren't, and everyone was stupid for thinking they were. John Gruber then tapped Calculator on his iPhone, looked at GAAP (Generally Accepted Accounting Principles) and non-GAAP numbers, and said the estimates were within reason. Wilcox updated his original post, decrying the use of non-GAAP numbers, and re-asserting his original conclusion.

Who's side are we on? Why, the audiences' of course, with popcorn, hotdogs, and spicy drink in hand. It's not like either Apple or Nokia give us a cut of the winning profits, and though we love our iPhones a lot, we'll take a blog v.s blogfight any time.

[via TUAW]