Apple Continues to Take More Than Half of Mobile Phone Industry Profits
Despite a sequential drop in iPhone sales in the third calendar quarter of 2011 as customers held out for the iPhone 4S, Apple once again seized over half of the profits generated by leading mobile phone manufacturers during the quarter, according to a new research report by Canaccord Genuity analyst T. Michael Walkley and shared by Forbes. According to the study's estimates, Apple raked in 52% of the overall profits during the quarter, down slightly from 57% in the second calendar quarter but up from 47% in the year-ago quarter that also had the then-new iPhone 4 on the market.
In an epic reversal of fortunes, Mr. Walkley pointed out that in 2007, Nokia had 67% of operating profits while Apple had just 4%. Today, while Apple has 52% of industry profits, Nokia has been relegated its rival’s former position with just 4% of operating profits.
As noted in a report from AllThingsD on the same research note, Walkley predicts that the launch of the iPhone 4S will spur even further growth for Apple, pushing the company to take over 60% of industry profits in the final calendar quarter of 2011.

Walkley is not the only observer to routinely release estimates of mobile phone manufacturer profit shares, as asymco's Horace Dediu performs a similar analysis each quarter. Dediu's numbers have typically come in 5-10 percentage points higher for Apple than Walkley's estimates have, but the trends seen by each analyst are certainly consistent: Aside from some natural ebb and flow due to iPhone release cycles, Apple is continuing to increase its dominant share of mobile phone industry profits despite shipping only a small fraction of total units.
Update: Dediu has just posted his Q3 estimates, pegging Apple at 56% of industry profits.
Popular Stories
Apple hasn't updated the AirPods Pro since 2022, and the earbuds are due for a refresh. We're counting on a new model this year, and we've seen several hints of new AirPods tucked away in Apple's code. Rumors suggest that Apple has some exciting new features planned that will make it worthwhile to upgrade to the latest model.
Subscribe to the MacRumors YouTube channel for more videos.
Heal...
In 2020, Apple added a digital car key feature to its Wallet app, allowing users to lock, unlock, and start a compatible vehicle with an iPhone or Apple Watch. The feature is currently offered by select automakers, including Audi, BMW, Hyundai, Kia, Genesis, Mercedes-Benz, Volvo, and a handful of others, and it is set to expand further.
During its WWDC 2025 keynote, Apple said that 13...
Popular accessory maker Anker this month launched two separate recalls for its power banks, some of which may be a fire risk.
The first recall affects Anker PowerCore 10000 Power Banks sold between June 1, 2016 and December 31, 2022 in the United States. Anker says that these power banks have a "potential issue" with the battery inside, which can lead to overheating, melting of plastic...
Chase this week announced a series of new perks for its premium Sapphire Reserve credit card, and one of them is for a pair of Apple services.
Specifically, the credit card now offers complimentary annual subscriptions to Apple TV+ and Apple Music, a value of up to $250 per year.
If you are already paying for Apple TV+ and/or Apple Music directly through Apple, those subscriptions will...
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are around three months away, and there are plenty of rumors about the devices.
Apple is expected to launch the iPhone 17, iPhone 17 Air, iPhone 17 Pro, and iPhone 17 Pro Max in September this year.
Below, we recap key changes rumored for the iPhone 17 Pro models:Aluminum frame: iPhone 17 Pro models are rumored to have an...
Apple is developing a MacBook with the A18 Pro chip, according to findings in backend code uncovered by MacRumors.
Earlier today, Apple analyst Ming-Chi Kuo reported that Apple is planning to launch a low-cost MacBook powered by an iPhone chip. The machine is expected to feature a 13-inch display, the A18 Pro chip, and color options that include silver, blue, pink, and yellow.
MacRumors...
Apple is planning to launch a low-cost MacBook powered by an iPhone chip, according to Apple analyst Ming-Chi Kuo.
In an article published on X, Kuo explained that the device will feature a 13-inch display and the A18 Pro chip, making it the first Mac powered by an iPhone chip. The A18 Pro chip debuted in the iPhone 16 Pro last year. To date, all Apple silicon Macs have contained M-series...
Apple last month announced the launch of CarPlay Ultra, the long-awaited next-generation version of its CarPlay software system for vehicles.
There was news this week about which automakers will and won't offer CarPlay Ultra, and we have provided an updated list below.
CarPlay Ultra is currently limited to newer Aston Martin vehicles in the U.S. and Canada. Fortunately, if you cannot...
Apple will finally deliver the Apple Watch Ultra 3 sometime this year, according to analyst Jeff Pu of GF Securities Hong Kong (via @jukanlosreve).
The analyst expects both the Apple Watch Series 11 and Apple Watch Ultra 3 to arrive this year (likely alongside the new iPhone 17 lineup, if previous launches are anything to go by), according to his latest product roadmap shared with...