According to a new estimate from BMO Capital Markets, Apple has managed the seemingly impossible feat of generating more than 100% of the industry’s profits in the third quarter of 2016.
How is that even possible? Apple accounted for 103.6% of industry profits because other vendors lost money in the space, resulting in Apple having more smartphone profit than the industry netted overall.
Among major vendors, Samsung was second in smartphone profits in Q3 with a tiny 0.9% share with LG and HTC losing money.
Apple’s achievement is all the more impressive when you remember what a tiny segment of the smartphone industry it claims in terms of shipments. BMO Capital Markets estimates that Apple was responsible for just 13.2% of smartphone sales in Q3, trailing behind Samsung with 21.7%.