Apple grabs lion’s share of 2016 smartphone profits

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Samsung got dominated by Apple in 2016. Samsung got dominated by Apple in 2016.
Photo: Jim Merithew/Cult of Mac

When it comes to making money off of smartphones, no company is
doing it as well as Apple.

The latest data on profits made by smartphone
manufacturers reveals that while the iPhone doesn’t dominate the
global marketshare, it takes home nearly all of the profits.

In its research report on 2016 smartphone profits, Strategy
Analytics says
that Apple captured 79.2 percent of global
smartphone profits. The entire smartphone industry was
estimated to have generated $53.7 billion in profits last year.
Apple grabbed a $44.9 billion piece of the pie.


Samsung
came in second last year again. The South Korean company got
14.6 percent of the global profits. Small Chinese companies
took the rest of the money with Huawei taking 1.6 percent, OPPO
nabbed 1.5 percent and Vivo accounted for 1.3 percent of global
profits.


Apple’s
share in the total profits has actually dipped in recent year.
In 2015 it accounted for an astounding
93% of all profits
.

iPhone
7 and iPhone 7 Plus sales during the holidays helped Apple
break its previous record for the most iPhones sold in a
quarter. Ever since it released its Q1 2017 earnings report the
company has seen its stock rise steadily.