Apple Inc. (NASDAQ:AAPL) & Samsung Add up to 106% of the Industry’s Profits

Apple Inc.(NASDAQ:AAPL) and Samsung are not satisfied in being the masters of the mobile market – according to Canaccord Genuity, they are presently accountable for 106% of the industry’s earnings. This is mostly because competitors such as Research In Motion, Nokia, and Motorola have reported losses during September.

This is the 2^nd time that the two tech giants have demonstrated such performance. In the 2^nd quarter of 2012, both companies represented a combined share of 108%. Canaccord analyst T. Michael Walkley stated that such too-good-to-be-true results have been possible due to Apple and Samsung diversifying their product offerings when it comes to smartphones.

Apple comprised 59% of the industry’s gains in the 3^rd quarter with global handset unit sales coming to 6.3% and smartphone unit sales adding up to 15.4%. Samsung made up 47% of profits with 25.6% and 25.3 of global handset unit sales in the 3^rd and 2^nd quarter respectively due to its dynamic Galaxy S3 sales. However, Apple might cut into Samsung’s market share due to the enormous demand for iPhone 5.

The handset industry does not look too bright for other players as of now with Motorola and Nokia facing serious problems and low-cost handset manufacturers like ZTE are dominating the low-end market.