iPhone sales might have decreased for three consecutive quarters. However, the latest data from research firm Strategy Analytics reveals Apple is unsurprisingly still doing exceptionally great in the smartphone market. According to Strategy Analytics, Apple found a record 91 percent of profits in the worldwide smartphone market in the third quarter, or $8.5 billion of the total $9 billion in profits recorded by all suppliers combined.
Apple’s greatest competitor Samsung was nowhere to be found on the list. Chinese smartphone makers Huawei, Vivo, and OPPO respectively took the second, third, and fourth spots with between 2.2% and 2.4% of profits. Director at Strategy Analytics, Linda Sui said, “Apple’s ability to increase price and decrease production cost is truely impressive and the iPhone continues to gain monster profits. Huawei, Vivo and OPPO are the next three most profitable smartphone makers worldwide this quarter, however, they are still very far away behind Apple.”
According to Strategy Analytics, Apple’s profit margin is amazing because no any other smartphone vendors found more than $200 million in profits amid the quarter. Apple’s share of profits was about forty times larger than its nearest competitor. iPhone sales decreased on a year over year basis in the second, third, and fourth consecutive quarters of the fiscal year 2016. After increasing only marginally at the first quarter, that makes Apple’s record breaking smartphone profits even more promising.
Tim Long, the BMO Capital Markets analyst formerly projected Apple gathered 103.6% of smartphone industry profits in the third quarter. The main reason for the dissimilarities between the datasets needs yet to be clear.