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Report: Apple earned 32 percent of all revenue in the smartphone industry

Apple continues to dominate the smartphone market, raking in 66 percent of industry-wide Q3 profits (Image source: Wired)
Apple continues to dominate the smartphone market, raking in 66 percent of industry-wide Q3 profits (Image source: Wired)
Third quarter financial results show that Apple continues to reign supreme in the smartphone space. Reports indicate that Apple secured over half of the industry's profits and one-third of its revenue.

Apple has been a pioneer in the smartphone industry since its inception. 2019 has been a bearish year for smartphones in general, with demand for premium devices slowing down worldwide. iPhones don't seem to be feeling the heat, though. The industry overall reported an 11% decline in profits during Q3 2019. However, Apple alone secured 66% of smartphone profits and 32% of smartphone revenue, according to a report by Counterpoint Research.

With an extremely loyal consumer base in the USA, EU, Japan, and China, Apple continues to post solid financials even as other manufacturers struggle. Another reason behind Apple's exceptional performance is the introduction of new products within the Apple ecosystem, such as the Apple Card

Samsung, Cupertino's main competitor, is a far-distant second with only 17% of industry's profits. Brands such as Xiaomi and Huawei with a substantial amount of mindshare barely figure in global smartphone profit figures. A key reason behind this is that these brands sell high-end hardware at lower prices, reducing their margins.

With iPhones commanding a high mindshare, large userbase, and high resale value, Apple is able to sell hardware at premium prices even if it lags behind the competition on key specs like camera quality, battery life, and display resolution. Apple, of course, reaps the dividends.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2019 12 > Report: Apple earned 32 percent of all revenue in the smartphone industry
Arjun Krishna Lal, 2019-12-21 (Update: 2019-12-21)
Arjun Krishna Lal
Arjun Krishna Lal - News Editor
I've had a passion for PC gaming since 1996, when I watched my dad score frags in Quake as a 1 year-old. I've gone on to become a Penguin-published author and tech journalist. When I'm not traveling the world, gathering stories for my next book, you can find me tinkering with my PC.