Apple accounts for 93% of the smartphone industry’s operating profits

Android devices may make up the vast majority of the mobile market but it’s iOS devices that are the most profitable. According to a new report from Canaccord, Apple accounted for a ridiculous 93% of the smartphone industry’s operating profits last quarter. This is a significant increase over the year prior, while Android’s share of the smartphone industry’s  operating profits has fallen to an all-time low. 

A recent report produced by Canaccord credited Apple with 93% of the smartphone industry’s operating profits during the fourth quarter. On Thursday, Strategy Analytics released its stats for the same three month period. While the report said Apple was responsible for an amazing 88.7% of the industry’s operating profits, it also said that Android’s share hit a record low 11.3%. In dollars, Apple had operating profits of $18.8 billion for the period compared to Android manufacturers’ $2.4 billion. This is a pretty big jump from the previous year. During the third quarter of 2013, Apple’s operating profits equaled 70.5% of the smartphone industry’s total. Android accounted for 29.5% of the operating profits amassed by smartphone manufacturers during that three month period. Looking at the dollars involved for the 2013 quarter, Apple reported operating profits due to iPhone sales of $11.4 billion. Android profits amounted to $4.8 billion.