Report shows Apple taking 92% of smartphone industry profits on 20% market share

There’s market share and there’s profits.

And Apple seems to be gobbling up 92 percent of the latter.

A report released by Canaccord Genuity indicate that Apple takes 92 percent of the profits for the entire smartphone industry despite accounting for only 20% of sales.

In the report, Samsung reaped 15 percent of the profits despite selling far more units than Apple.

Canaccord CEO Mike Walkley said that at the time Apple first entered the smartphone market in 2007, Nokia was taking around two-thirds of the profits. By 2012, the profit split was around 50:50 between Apple and Samsung. Since then, he said, the “high-end tier has really shifted away from Samsung to Apple.”

Apple’s share of smartphone profits is up from 65 percent a year ago, though very slightly down on its 93 percent share in the holiday season. It has been reported that Apple plans to produce a record number of iPhone 6S handsets this year, aiming to top 90M units by the end of the year.

Not a bad place to be.

Via 9to5Mac and the Wall Street Journal