Apple grabbed 79% of global smartphone profits in 2016

Apple logo2016 was a good year for Apple, not so much for Samsung Mobile. The Korea Herald quoted a report by Strategy Analytics illustrating financial results posted by the biggest players in the smartphone market last year.

The global smartphone market recorded a total operating profit of $53.7 billion in 2016, most of which went to Apple. The Cupertino company managed to capture $44.9 billion and record a profit margin of about 32.4% last year.

Samsung Electronics didn’t do so well with an operating profit of $8.3 billion in 2016, accounting for 14.6% of all global profits. Samsung’s operating profit margin reached 11.6% last year, while annual sales of smartphones dropped $71.6 billion from $75.2 billion in 2015..

Apple’s results aren’t surprising, considering that the company introduced three smartphones last year, targeting all types of users. iPhone SE is mainly designed for people who like smaller handsets, but with satisfactory performance. iPhone 7 and iPhone 7 Plus did manage to attract some consumers that Samsung lost following the Galaxy Note 7 disaster.

Chinese smartphone makers captured the remaining 6.4% of the market, with Huawei landing third with $929 million operating profits last year and a market share of 1.6%. Oppo and other markers grabbed below 1.5% market share. However, the report mentions that cheaper smartphones have started to rapidly gain market share, but trends continue to be established by makers of premium phones.

Samsung is now focused on regaining consumer trust in its smartphones, which is why the launch of its newest flagship, the Galaxy S8, is extremely important. Samsung doesn’t afford to make another mistake, especially since Apple is launching its anniversary iPhone Edition this year. The new iPhone will have a completely new design and exciting features, like wireless charging and 3D sensing front camera.

Source: Softpedia

Tags: Apple, Samsung, smartphones

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