Samsung may have shipped more smartphones than Apple during the second quarter, but that doesn’t really matter if Apple’s taking home all of the profits. An ABI Research report last month suggested that Apple and Samsung currently take about 90% of smartphone profits and have a combined market share of 55%.
A fresh report on Monday from Raymond James analyst Tavis McCourt suggests that, even though Apple may have only shipped 6% of all tablets and smartphones during the second quarter, the Cupertino-based firm pulled in 43% of the entire industry’s revenue and 77% of all profits. So, while it may not have sold as many devices as other smartphone and tablet makers, it’s still pulling in a majority of the revenue and profit. Those are astonishing figures, but here’s the real kicker: Apple’s iPhone sales during its fiscal third quarter were below the figures for its fiscal second quarter; that’s because users typically hold out for the next iPhone during that quarter.
“Ultimately, profits are the feedstock of innovation; and, innovation drives profits,” McCourt said in a note to investors obtained by AllThingsD. “Until Samsung starts generating more profits than Apple, we would not be overly concerned with who has the unit share lead. Remember, HP and Dell still sell a lot more PCs than Apple sells Macs, but does it matter?”
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