Apple Claimed 91 Percent of Global Smartphone Profits in Q3 2016
The iPhone maker set a new record for claiming the largest piece of the smartphone pie.
Huawei made waves for dethroning Samsung as the most profitable Android manufacturer in the third quarter of 2016, but Apple definitively came in first, gobbling up 91 percent of global smartphone profits during that time period.
According to Apple Insider, research firm Strategy Analytics crowned Apple as the world's most profitable smartphone manufacturer with a bullet: $8.5 billion in profits for Q3 2016, which ended in September.
Image: Strategy Analytics
"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," said Strategy Analytics director Linda Sui. "Huawei, Vivo and OPPO are the next three most profitable smartphone vendors globally this quarter, but they are still a long way behind Apple."
Chinese Android phone manufacturers Huawei, Vivo, and Oppo vied for a distant second place, accounting for 2.4 percent, 2.2 percent, and 2.2 percent (roughly $200 million each), respectively.
Samsung, formerly the undisputed champion in Android phones, plunged to the ninth spot on the list of global smartphone profit. The fiasco stemming from defective Galaxy Note 7 phones that burst into flames accounted for the majority of Samsung's lost profits.