Scalper1 News
Smartphone manufacturing is a money-losing proposition unless you’re Apple (AAPL) or Samsung. Those top two vendors in the handset market soaked up all of the available profits in the business yet again in the first quarter, according to Canaccord Genuity. In fact, Apple (AAPL) and Samsung accounted for 106% of smartphone profits in Q1 because they made more money than the total market since other major vendors lost money, Canaccord analyst Michael Walkley said in a report Thursday. Apple and Samsung combined for $15.71 billion in operating income from smartphones in Q1, while the total market among the leading vendors produced $14.86 billion in operating income. Nokia (NOK), BlackBerry (BBRY), Motorola, Sony (SNE), LG and HTC all lost money in their smartphone businesses last quarter. Microsoft (MSFT) completed its purchase of Nokia’s handset business on April 25. And Lenovo is in the process of buying Motorola from Google (GOOG). Scalper1 News
Scalper1 News