Apple raking in 94% of world's smartphone profitsNovember 18, 2015 - 00:32 AMT PanARMENIAN.Net - Apple is raking in a whopping 94% of the world's smartphone profits, despite selling fewer handsets than Samsung, the latest figures suggest, according to Digital Spy. A Canaccord Genuity report indicates that the iPhone maker achieved the impressive profit share while claiming just 14.5% of global smartphones sales during the third quarter of 2015. By comparison, its closest rival Samsung snagged 24.5% of global sales during the three-month period, but came away with just 11% of the profits. Quick arithmetic will tell you that those profit figures exceed 100% - this is because several phone makers, including HTC and Sony, reported negative operating income for the quarter. Apple achieved such high profits on relatively low shipments because of the amount it charges for the iPhone, according to Apple Insider. The average cost of an iPhone during the quarter was around $670. Couple this with high operating margins of 37% and Tim Cook and his band of merry men are in the money. Samsung's average handset costs around $180, and margins of 10% meant that it made less from each phone, despite shifting more than Apple. Apple's profits were up almost 10% year on year, but are not expected to peak until the fourth quarter, which will take Christmas sales into account. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |