Apple and Samsung combined for 55 percent of smartphone market in Q1, raked in 90 percent of market’s profits

samsung apple Apple and Samsung combined for 55 percent of smartphone market in Q1, raked in 90 percent of markets profits

As the smartphone market rapidly expands to include more devices from more manufacturers, and as an increasing number of consumers line up for those handsets, you’d think that once-dominant companies would be losing their grip. But you’d be wrong. According to a report released Friday by ABI Research, Samsung and Apple seem to be the only smartphone makers reaping the rewards of the burgeoning market. Together, the companies were responsible for 55 percent of the nearly 145 million smartphones shipped in this year’s first quarter. If that’s not enough to blow your hair back, ABI also found that Samsung and Apple raked in an astonishing 90 percent of the market’s profits. Yes, 90 percent.

If that doesn’t deliver a wake-up call to other manufacturers, it should. Especially considering both Samsung and Apple are expected to continue growing thanks to the impending launches of the Galaxy S III and the iPhone 5.

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