Apple is taking 93% of the profits in the smartphone industry now
Apple is basically the only company making money from smartphones anymore.
Every quarter, Canaccord Genuity analyst Michael Walkley takes a look at the state of the profits of smartphone companies. This quarter, Walkley found Apple had a record breaking 93% of the industry's profits.Apple is always the leader, but for a short while, it looked like Samsung was going to catch Apple. Those days are long gone. Apple has blasted away from the pack.
It's also under attack at the low-end from cheap Chinese phone makers like Xiaomi. Walkley doesn't have Chinese phone maker Xiaomi in his table, saying, "since Xiaomi is a private company, we are unable to get their sales and profit metrics. If I could get their profit metrics, then I would certainly include."Apple sold 74.5 million iPhones last quarter, generating roughly $12.6-$13.5 billion in profits.
If you're more into pie charts, here it as a pie chart for Q4.
- Around 96% people saw drop in their earnings during COVID-19 induced lockdown
- Owning an electric two-wheeler is slightly cheaper than petrol and diesel at a time when fuel prices are at a record high
- TTD approves Rs 2,938-crore budget for 2021-22
- Wholesale growth expected to continue for tractors, passenger vehicles and two-wheelers, says equity research firm Emkay
- Centre finalises One District One Focus Product to promote in cluster approach