Apple, Samsung account for 90 percent of smartphone profits

Washington, June 16 (ANI): Korean mobile maker Samsung and US-based tech giant Apple have captured over half the global market for smartphones and over 90 percent of its profits, according to a research firm.

According to ABI Research, global smartphone shipments grew 41 percent year-over-year to 144.6 million in the first quarter of 2012.

The report said that Samsung and Apple accounted for 55 percent of smartphone shipments and over 90 percent of the market's profits, News24 reports.

The report revealed that Samsung and Apple delivered 43 million and 35 million units in the quarter respectively.

Nokia was third with 11.9 million and BlackBerry maker Research in Motion (RIM) just behind with 11.1 million.

Of the top ten smartphone makers, only Samsung and Sony saw sequential growth from the fourth quarter, which is traditionally strong, the report said. (ANI)