Apple iPhone sales make up almost 80 percent of the company's profits
Apple Inc. might as well rename itself to "iPhone Inc." as the iPhone family has been the most profitable smartphone by far in the market.
Despite what smartphone rankings say about Samsung and its superior market share against its competitors, the South Korean company reaps just 14.6 percent of worldwide smartphone profits for a total of 8.3 billion USD according to analytical firm Strategy Analytics. Meanwhile, Apple takes in 79.2 percent of all smartphone profits made for a total of 44.9 billion USD. The source blames the Galaxy Note 7 disaster as a major contributing factor to Samsung's stagnant year in profits.
In total, the smartphone market has brought in an estimated 53.7 billion USD for all manufacturers involved. Manufacturers who aren't Samsung or Apple are essentially left in the cold with either razer-thin profit margins or significantly lower sales when compared to the two biggest manufacturers. While Oppo, Vivo, and Huawei have been rising fast in market share, they only receive 1.5 percent, 1.3 percent, and 1.6 percent of the final profit cuts, respectively. All other manufacturers have earned even less from the business.