Apple has recorded an insane mobile phone profit share in the third quarter, according to analysts at BMO Capital Markets. They estimate Apple captured 103.6% of total smartphone industry profits, with Samsung trailing far behind at just 0.9%. The reason Apple can take more than 100% of profits is because the majority of vendors lost money and recorded losses on their smartphone division, such as LG and HTC.
On a units basis, Samsung led with 21.7% of smartphones sold with Apple placing second at 13.2% share. This is the first time Apple has recorded industry profits in excess of 100% thanks to Samsung’s Galaxy Note 7 recall blunders and strong demand for iPhone 7.