iPhone Has 4% of Mobile Market—But 52% of Profit

And it's got room to grow
By Kevin Spak,  Newser Staff
Posted Nov 7, 2011 9:12 AM CST

(Newser) – Apple is officially making ridiculous money on the iPhone. How ridiculous? Well, the phone now generated a whopping 52% of all mobile phone profits worldwide last quarter—despite controlling just 4.2% of that market, according to a new report from the Canaccord Genuity research firm. And amazingly, the analyst behind the report expects Apple's numbers to improve. Given issues at competitors like Nokia and RIM and the competition between Android phones, he expects Apple to capture 60% of industry profits in the coming quarter, the Daily Mail reports. (Read more iPhone stories.)

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