Apple and Samsung grab all the profits, competition goes below 0

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The mobile industry profits for the third quarter of this year don’t look very optimistic for any company besides Samsung and Apple. The two giants got the whole pie and then some more. Apple took 56% of the profits followed closely by Samsung with 53%. And yes that totals for 109% because other competitors are actually losing money in this harsh business.

Companies like Nokia, LG and HTC experience a -1% profit loss, while others such as BlackBerry and Motorola were most affected with profit losses of  -4% and -3%, respectively. Sony is the only company that has neither loss nor profit for Q3 2013. Nevertheless, the data made available by Canaccord Genuity doesn’t include Chinese companies so Apple and Samsung’s numbers could be lower in reality.

With the launch of iPhone 5S and 5C Apple has good chances of scoring major profits during the holiday quarter, said analyst Michael T. Walkley. Even when taking just phones into account Apple and Samsung are still having over 100% of the profit for quite some time.

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Source: Appleinsider