Apple has won a record-breaking share in the smartphone market following the release of the new iPhone 7, reports Strategy Analytics.
iPhones contributed to 91 percent of all smartphone profits around the world between July and September, followed by Chinese firm Huawei with 2.4 percent.
Linda Sui, Director at Strategy Analytics, had this to say in a press statement:
We estimate the global smartphone industry realized total operating profits of US$9.4 billion during Q3 2016. Apple dominated and captured a record 91 percent share of all smartphone profits worldwide. Apple’s ability to maximize pricing and minimize production cost is hugely impressive and the iPhone continues to generate monster profits. Huawei, Vivo, and OPPO are the next three most profitable smartphone vendors globally this quarter, but they are still a long way behind Apple.
Apple stood at top of the profits table with $8.5 billion in profits; followed by Huawei, Vivo, and OPPO at $0.2 billion each netting 2.4 percent, 2.2 percent and 2.2 percent each, respectively. Sui noted that apart from Apple, the other top performers were Chinese manufacturers.
“Three of the world’s top four most profitable smartphone vendors are currently Chinese. Huawei, Vivo and OPPO have not only improved their smartphone product lineups this year, they have also enhanced their operational abilities and kept a tight lid on expanding distribution costs,” she added.
Apart from the data concerning Apple, the most interesting piece of data from Strategy Analytics showed that China’s Huawei became the world’s most profitable Android vendor for the company’s first time ever.
