Canaccord Genuity estimated back in July that Apple was taking home 92% of the profits in the entire smartphone industry, and now says the figure climbed even higher last quarter, hitting 94%. Samsung was the only other company to make a profit, says the report, with 11% – the somewhat odd math explained by the fact that everyone else is losing money.
Investors Business Daily quotes analyst Michael Walkley predicting continued strong performance by Apple.
“Apple dominated the premium-tier global smartphone market during calendar Q3, with record share of industry profits,” Walkley said in the report. “We believe the iPhone 6 and 6S products should continue to post strong sales and high-end smartphone market share gains.
“With only 31% of the iPhone installed base having upgraded to the iPhone 6 and 6 Plus devices by Apple’s fiscal Q4 2015 (ended Sept. 26), we anticipate continued strong replacement sales through calendar 2016 and beyond.”
Tim Cook said last month that Apple was expecting big things from the holiday quarter.
We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV.
The company reported record earnings in its fiscal 2015 year, which ended in September.
Photo: Ryan Emberley/Invision for Apple/AP Images.