Apple made 92 per cent of global smartphone industry profits in Q1
Apple may not sell the most smartphones, or have the most users, but it makes by far the most money, according to researchers.
Samsung, which dominates the industry in terms of shipments, took around 15 per cent of profits, Canaccord said. (Figures include companies that broke even or lost money.) Apple sells less than 20 per cent of all smartphones shipped worldwide.
Last week, Microsoft, Samsung and Taiwan-based HTC all forecast falls in smartphone revenue, while Apple asked suppliers to prepare to make a record number of new iPhone models.
Apple's profits are mainly due to its high prices. In 2014, the iPhone sold for a global average of US$624, while smartphones running Google's Android operating system retailed for around US$185 on average, according to Strategy Analytics.
Research firm IHS estimates that Apple's profit margin on the iPhone 6 and 6 Plus is could be as high as 69 per cent. Average profit margins for previous models have been between 40 and 50 per cent.
Apple makes the majority of its smartphone revenue directly from device sales, unlike some of its rivals, such as Microsoft and Xiaomi, which focus on after-sales profit through accessories and apps.