The smartphone wars are two company race and it’s not even close.
Apple and Samsung are dominating the competition so badly that a new report from Canaccord Genuity claims the two tech giants account for 106% of global smartphone profits.
Take a look at this chart:
Uh, so how do they have more than 100%? Well, every other handset maker – HTC, Nokia, Motorola, & Blackberry – are all losing money, or just breaking even making smartphones.
Apple now takes 65% of the industry’s profits, while Samsung enjoyed a hearty 41% as of the end of March 2014. According to analyst Michael Wakley, Apple is able to get more profits thanks to its device operating margins of 37% compared to Samsung’s at 22%.
Struggling companies like Nokia and Microsoft are hoping to make a comeback with updated mobile platforms, but according the Wakley it’s unlikely that they’ll be able to return as viable contenders but an Android maker from China could possibly rise to the challenge in the long term.