SHINY TOY MAKER Apple took 77 per cent of the profits in the smartphone industry in the second quarter, despite shipping fewer devices that arch rival Samsung.
That's according to research from Raymond James analyst Tavis McCourt, Allthingsd reports, who has revealed that Apple captured around 43 per cent of the mobile industry's revenues and a massive 77 per cent of the industry's profits.
These figures come despite Apple accounting for just six per cent of smartphone and tablet shipments in the quarter, and despite the fact that Samsung shifted twice as many smartphones as Apple.
McCourt says that profitability is vital to the company because having more money means it can afford to keep itself step ahead of the competition.
"Ultimately, profits are the feedstock of innovation; and, innovation drives profits," he wrote.
"Until Samsung starts generating more profits than Apple, we would not be overly concerned with who has the unit share lead. Remember, HP and Dell still sell a lot more PCs than Apple sells Macs, but does it matter?"
These huge numbers are likely to increase for Apple over the third and fourth quarters, as the firm is expected to release its next generation Iphone in September. The yet unnamed device is widely tipped to feature a larger screen, a quad-core processor and the latest version of IOS. µ