Apple accounted for 93% of last quarter’s mobile profits

Further highlighting the insane amount of dominance that Apple and Samsung have over the mobile market a new report states that Apple accounted for around 93% of the fourth quarter mobile profits while Samsung took pretty much all of the other 7%. While this can largely be attributed to the release of the new iPhone, 93% is an INSANE number in any circumstance. 

The latest numbers from Canaccord Genuity reveal that Apple accounted for 93% of mobile profits during the fourth quarter, leading the financial services company to raise its price target on Apple shares from $135 to $145. The firm also predicted that iPhone adoption could grow to 650 million users through 2018 as more smartphone owners upgrade to the iPhone 6 and iPhone 6 Plus. Apple and Samsung combined to capture all profits in the mobile industry during the fourth quarter, as competitors including Microsoft, BlackBerry, HTC, Sony, LG and Lenovo either broke even or faced a loss in value share during the three-month period. Apple captured 79% of mobile profits for the entirety of 2014, with a margin of 37% on operating income of $44.6 billion.