Apple, Samsung combine for 109% of smartphone profit
Samsung sells more smartphones, but Apple (AAPL) still leads in smartphone profit. In the third quarter, Apple generated $6.49 billion in operating income from smartphone sales, while Samsung took in $6.13 billion in operating profit, Canaccord Genuity analyst Mike Walkley said in a research note Thursday. Apple’s operating profit margin on its iPhones was 33% in Q3, while Samsung’s was 20%. In a mathematical quirk, Apple and Samsung combined for 109% of the industry’s total profit. That’s because the rest of the industry lost money on smartphone sales. Apple and Samsung together made $12.61 billion in operating income, while the top eight smartphone manufacturers had $11.64 billion in profit. Nokia (NOK), BlackBerry (BBRY), Google’s (GOOG) Motorola, LG and HTC lost money on smartphones, while Sony (SNE) broke even in Q3, Walkley said. Apple accounted for 56% of industry smartphone profit, while Samsung rang up 53%, Walkley said. Apple and Samsung…