Apple Garners 104% in Smartphone Profits – Other Android Phone Giants Struggling With Losses
The Apple onslaught continues as the company has accounted for over 100 percent of smartphone profits in the third quarter of this year. Despite coming in second place for the total number of smartphones sold globally, the company has shown that its iPhone lineup is the bread and butter to the company’s financial growth.
Smartphone Profits Exceeds 103.6 Percent, With Success for Apple Coming as a Result of Significant Losses From Its Android Smartphone Rivals
Analyst Tim Long stated that one of the reasons why Apple was able to accumulate a staggering 103.6 percent profit share in Q3 2016 was because of the heavy losses posted by rival vendors including LG and HTC. This would also include the Galaxy Note 7 recall, and how Samsung lost a significant piece of its market value as a result of the Note 7 saga. According to the latest report, near 9 out of 10 smartphones are running Android, and while that means a dominant market share for the operating system, there’s a small amount of profit being shared amongst companies.
Despite amassing 104 percent in profits, Apple still came in second place for the total number of smartphone units sold. Samsung accounted for 21.7 percent of all smartphones sold, compared to Apple’s 13.2 percent share. Unfortunately, Samsung’s 2.17 percent market share only allowed it garner 0.9 percent in profits.
The same report also states that Apple managed 90 percent profit share in the same quarter a year ago, but to remind you, there was no recall of any phone with the Samsung logo on it. Despite huge setbacks stemming from its Note 7, the company still managed to report a profit, suggesting that there are other markets where the company shares an unrivaled market in, which can no doubt cover the losses for the company.
Because iPhone 7 and iPhone 7 Plus also come with substantial improvements in hardware and software, it makes it an ever easier choice for consumers who own a previous generation handset. What are your thoughts on Apple’s dominance in smartphone profits? Tell us your thoughts right away.