Technology giant Apple continued to dominate the global smartphone market in the third quarter (Q3) of 2016, accounting for 91 per cent of the total market share.
This is according to new analysis from Strategy Analytics, which revealed that profits in the worldwide smartphone industry reached a total of $9 billion (£7 billion) between July and September this year, with Apple accounting for a significant majority of this.
Linda Sui, director of Strategy Analytics, commented: “Apple's ability to maximise pricing and minimise production cost is hugely impressive and the iPhone continues to generate monster profits.”
The second biggest player in the global smartphone market in Q3 was revealed to be Huawei, which accounted for roughly $0.2 billion of profit in the sector, equating to a two per cent market share. With Apple bringing 91 per cent of the market's profit to the table, this comparison demonstrates just how much of a dominating force the brand behind the iPhone is.
Meanwhile, the third and fourth greatest contributors to global profits in the market were Vivo and OPPO, each accounting for two per cent of the market share. Strategy Analytics found that these two tech brands fared so well in the ever-more competitive market due to sticking with disciplined pricing strategies, while increasing their shipments to Asia, where demand for the latest technology is exceptionally high, despite some economic uncertainty.
Ms Sui continued: “Three of the world's top four most profitable smartphone vendors are currently Chinese. Huawei, Vivo and OPPO have not only improved their smartphone product lineups this year, they have also enhanced their operational abilities and kept a tight lid on expanding distribution costs.”
Collectively, other brands offering smartphones also accounted for 2.2 per cent of the market share, further highlighting the extent of the hold that Apple has on tech customers across the globe.