Home Business & Finance Samsung Might Close Down Gap with Apple for Global Smartphone Profits This Year

Samsung Might Close Down Gap with Apple for Global Smartphone Profits This Year

Despite recent competition from other smartphone makers, Apple still remains the most profitable smartphone maker as the company captured more than 79.2 percent of the global smartphone profits in last year according to a latest report released by Strategy Analytics. The report revealed that the company generated an operating profit of $44.9 billion while the global profit was %53.7 billion for all smartphone makers.

Samsung came close to Apple in terms of profit with 14.6 percent in global profits which could be higher if the company didn’t suffer the problems associated with the Note 7. While Chinese companies are catching up in the smartphone market, becoming competitive in terms of profit is still a long time away as Huawei, OPPO and Vivo collectively managed to share only 4.4 percent of the market share.

However, Samsung is likely to increase its global smartphone profits in 2017 given that it will release flagship smartphone after quite a long time. With the rumors suggesting that S8 and S8+ will have a higher price tag, it will certainly help the company to bring more profit in the year.

Featured Image: Wikimedia Commons

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