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Apple and Samsung Dominate Smartphone Market With Combined 106% of Profits

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The global smartphone market is becoming more and more of a two-pony race.

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A new report from Canaccord Genuity finds that Apple (NASDAQ:AAPL) and Samsung (OTCMKTS:SSNLF) accounted for a total 106% of global smartphone profits as of the end of March 2014.

You may be asking yourself, how can the two smartphone giants reap more than 100% of the profits? It's because all the other smartphone competitors -- Nokia (NYSE:NOK), Motorola, BlackBerry (NASDAQ:BBRY), and HTC (OTCMKTS:HTCKF) -- are either losing money or just breaking even.

Below is a chart demonstrating just how dominant Apple and Samsung are: 


Source: Canaccord Genuity

According to the report, Apple commanded 65% of global smartphone profits, while Samsung took 41%. Canaccord analyst Michael Walkley wrote that Apple is able to make substantially more profit than its competitor because of its high operating margins of 37%, compared to Samsung's 22%.

Right now, HTC is in third place to the two titans, with just over 0% of the industry's total profits.

Follow me on Twitter: @JoshWolonick and @Minyanville
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