A new report says Apple brought home 53 percent of global operating profit in the smartphone market last quarter.
Canaccord Genuity analyst Michael Walkley said Samsung earned 50 percent. How is that possible mathematically?
“Due to operating losses from smaller scale competitors, Apple and Samsung's combined share of industry profits exceeded 100 percent," Walkley said.
Apple's lead is slimming, however; the Silicon Valley giant had 57 percent of operating profit in the first quarter, compared to Samsung's 43 percent. The largest negative share of the industry operating loss for the second quarter came from Motorola, which was 2 percent, Walkley noted.
The analyst estimates that Samsung shipped 72.5 million smartphones last quarter, up from 69.7 million in Q1. Walkley expects leading smartphone suppliers will benefit from LTE smartphone sales growth in Western markets and global upgrades from feature phones to 3G smartphones in the coming months.
Click here for the analyst's list of hottest selling smartphones at AT&T, Verizon, Sprint and T-Mobile last quarter.
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