The economy is bad. It’s an obvious statement. We all know this fact; you only have to turn on the TV or read any print article to know that. Despite the poor economy and tanking computer sales, Apple has been able to continue turning impressive profits.

Apple also gets some serious help from its world-beating iPhone. According to Apple’s recently announced financials for fiscal Q3 2009, it increased iPhone sales by a whopping 636%. That has to make Steve Ballmer’s sphincter tone tight enough to rip a plug out of his office chair.

Apple says that it sold 5.2 million iPhones during the quarter, growing an astounding 626% YoY. While iPhone sales grew, sales of the iPod were down 7% to 10.2 million, again not a shock however. iPhone sales are hurting the iPod with subsidized iPhone pricing about the same as some iPod models, as we reported in the post about “cannibalizing” iPod sales with the iPhone, where it was revealed Apple knew it would happen, and welcomed the ideal that one device would replace various other gadgets.

The iPhone continues to grow in sales and position in the marketplace, and the future looks bright indeed.