Financial services company Cannacord Genuity estimates that Apple took 94% of the smartphone industry’s profits in Q3 – while shipping only 13.5% of the volume.
Samsung, meanwhile, made 11% of the smartphone industry’s profit. That combined 105% figure is because competitors have failed to make a profit or have actively lost money.
Cannacord notes that its figures are an estimate, and that they exclude a large portion of Chinese OEMs’ volumes due to the lack of available and comparable profit metrics. The company believes that it has probably overstated Apple’s profit – but many of the company’s most successful competitors (in China) are deliberately unprofitable while growing volume.
Continued market share gains for the iPhone 6 and 6S devices indicate a greater mix of Android users switching to iPhones, the firm concludes.