When it comes to making money off of smartphones, no company is doing it as well as Apple.
The latest data on profits made by smartphone manufacturers reveals that while the iPhone doesn’t dominate the global marketshare, it takes home nearly all of the profits.
In its research report on 2016 smartphone profits, Strategy Analytics says that Apple captured 79.2 percent of global smartphone profits. The entire smartphone industry was estimated to have generated $53.7 billion in profits last year. Apple grabbed a $44.9 billion piece of the pie.
Samsung came in second last year again. The South Korean company got 14.6 percent of the global profits. Small Chinese companies took the rest of the money with Huawei taking 1.6 percent, OPPO nabbed 1.5 percent and Vivo accounted for 1.3 percent of global profits.
Apple’s share in the total profits has actually dipped in recent year. In 2015 it accounted for an astounding 93% of all profits.
iPhone 7 and iPhone 7 Plus sales during the holidays helped Apple break its previous record for the most iPhones sold in a quarter. Ever since it released its Q1 2017 earnings report the company has seen its stock rise steadily.