Report claims Apple snatched 93% of the profits from the handset industry in Q4 2014

A new report mentions that Apple took up almost 93% of the profits that were generated in the handset market in the fourth quarter of 2014. The remaining was taken by Samsung, says Canaccord Genuity, which is an INVESTMENT firm.

Apple filed earnings of $18 billion in the last quarter, making it ONE of the most lucrative financial quarters in history.

This is a substantial rise over the same period in 2013, where Apple devices made up for 87.4% of the profits and Samsung handsets raked in 32.2% of the overall smartphone profits. The number surpasses 100% because the income generated by the TWO companies is greater than the loss incurred by every other company.

We must remember that these figures don’t take Xiaomi’s number into account which is a major player in the Chinese markets and is also the third largest smartphone vendor in the world today. We can’t put a finger on Xiaomi’s figures as it doesn’t disclose the profits and incomes at the end of every quarter.

Via: The New York Times