How did Apple, with 20% of the global smartphone market last quarter, manage to rake off 93% of the profit?
The math, as Canaccord’s T. Michael Walkley figured it in a note to clients Monday, is pretty simple:
- Apple sold 74.5 million iPhones at an average selling price of $698
- Samsung shipped the same number of smartphones — plus 20 million dumb phones — at an ASP of $206 apiece.
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Nobody else is making any money to speak of. Microsoft’s smartphones ended up with -2% of the profit, if you can imagine that. BlackBerry, Lenovo, Sony, LG and HTC were all lucky to break even.
“This is demoralizing,” wrote phoneArena’ s Daniel P., speaking for everybody but Apple.
Below: The two columns in Walkley’s spreadsheet that had people scratching their heads Monday.
Click to enlarge.
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