Jun 20, 2011 09:57 GMT  ·  By

Asymco analyst Horace Dediu has issued a report in which he analyzes the potential power of Apple’s cash pile against competitors in the mobile phone industry.

Dediu points out that Apple’s second (fiscal) quarter ends in less than two weeks when he expects the Cupertino tech giant to have over $70 billion in cash, cash equivalents, short-term marketable securities and long-term Marketable Securities.

According to Dediu, “That figure has been growing predictably.”

“Also predictable has been the decline in value of Apple’s mobile phone competitors,” he points out.

Nokia and RIM are the most prominent examples. Dediu then lists the enterprise values of the public companies responsible for 75% of all phones sold world-wide:

· Nokia $22.6b · RIM $13.8b · HTC $25.4b · Motorola Mobility $4.2b

Dediu calculates LG’s phone business value using a typical analyst formula and  assume a nominal value of $10b, pointing out to the chart pictured above (click to enlarge).

“Given the current valuations, it would not be difficult for Apple to acquire every phone vendor except for Samsung with cash alone,” Dediu opines.

In fact, the company may well be able to buy the entire mobile phone industry relatively soon, the analyst said.

“The more remarkable thing is that as market values of phone vendors continue to decline, Apple’s cash will continue to grow dramatically,” writes Dediu.

“Indeed, a time may soon come when Apple’s cash will be worth more than the entire phone industry,” he concludes.

For those who may be alarmed by Dediu’s claims, we can safely assume Apple has other plans with the 70 billion dollars it has in the bank, such as building new campuses, acquiring IPs to break ground in new markets and, of course, investing in its own flourishing iPhone business.