As we all know by now, Apple and Samsung are both the top dogs of the cell phone industry. According to Cannacord Genuity, their numbers are even more impressive than many believe.
Cannacord Genuity reported today that Apple and Samsung combined for an insane 103% of cell phone market profits last year. While Samsung has a larger worldwide market share, Apple doubled up Samsung’s profits. Even with a smaller market share, Apple managed to acquire 69% of the profits of the cell phone industry, whereas Samsung was responsible for 34% of the profits. Both companies improved profits year-over-year as well. In 2011, Apple had 65% of the profits, meaning it improved 5% in 2012, and Samsung doubled its profits year-over-year, going from just 17% in 2011 to the impressive number of 34% this past year.
While the numbers already seem high, especially for Apple’s profit, Michael Walkley, analyst for Cannacord Genuity, stated that Apple’s profit number may be even higher than reported:
We believe Apple’s value share of the handset market is even higher than our estimates…considering Apple’s dominant market share of the tablet market, as some Android OEMs such as Samsung and HTC include tablet sales in reported smartphone sales and profits.
And just for those of you confused by the high mark of 103%, it is due to the fact that all other manufacturers (when added up) had a net loss rather than profit like Apple and Samsung.
Source: Into Mobile
Image via: Macworld