Smartphone Smackdown: Who Will Rule the Sector?

(Smartphone Poll article updated with new information on the HP $1.2 billion buyout of Palm.)

NEW YORK (TheStreet) --

Companies such as Apple(AAPL), Google(GOOG), Research in Motion(RIMM) and Motorola(MOT) have been engaged in a ruthless battle of one-upsmanship when it comes to impressing the masses by matching the steadily growing demand with new and improved models whose capabilities only increase.

An example of just how cutthroat the market can be arrived on Thursday when Microsoft(MSFT) announced it was pulling the plug on its latest smartphone, the Kin. Debut sales were weak and the so-called feature phone couldn't stand up the to the competition.

The companies that remain in the battle for supremacy will do what it takes to get ahead, while fending off new threats from another major company that is proving itself brave enough to enter the market late in the game.

Which one of those companies is poised to win the war? We'll pose that poll question on the next page. In the meantime, here's a primer...

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Apple(AAPL) came out with its first iPhone in 2007, generating buzz around its unique combination of touchscreen, iPod functionality and email client capability. Apple recently came out with its newest edition, the iPhone 4.

Thousands of people across the country stood in line for hours waiting to get their hands on the $400 device, and within three days of its launch on June 24, Apple announced that more than 1.7 million iPhones had been sold. The iPhone 4 is being touted by some as the best iPhone yet, with groundbreaking features including free video chatting over WiFi.

Strictly offered on the AT&T(T) network, rumors are circulating that the iPhone could soon find its way to the Verizon network . If this happens, it will expand Apple's reach to Verizon(VZ) customers, and broaden its smartphone empire.

As the other major players scramble to come up with better features for their next models, Apple can enjoy the glory of being on top of the smartphone sector. For now.

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Google's(GOOG) Nexus is a power player itself. The phone's hardware is made by HTC and the software is Google's Android. Released in January 2010, the Nexus was the first Google-branded Android smartphone.

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On Monday, Nexus One users received the Android 2.2 software update, code-named Froyo, on their phones. The update offers new features, allowing users to make their handset a portable hotspot, and allowing Adobe( ADBE) Flash to work within the phone's browser.