Business

Apple rakes in 79.2% of smartphone profits in 2016

The 2016 saw plenty of hot smartphone announcements, but there was only one winner in the race for profits and it is Apple. The US company grabs the lion’s share of the total operating profits – $44.9 billion out of $53.7 billion total globally.

Apple made its first waterproof phone and hiked up the price of it and apparently this trick worked. It made $44.9 billion in operating profit – well ahead of the second-placed Samsung with $8.3 billion. The Koreans’ numbers would certainly be bigger but the Galaxy Note7 cause a major dent.

Top 5 is completed by three Chinese companies – Huawei, Oppo, and Vivo but their shares of the profits are puny – respectively 1.6%, 1.5% and 1.4% of global profits.

Source | Via