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Apple's newest iPhone model, the 4S Itsuo Inouye/AP/Press Association Images

Apple iPhone makes half of entire mobile industry's profits

The iPhone accounts for just four per cent of phone sales, but 52 per cent of the proceeds.

THE APPLE IPHONE accounts for just four per cent of global mobile phone sales – but makes more than half of the entire  industry’s profits.

According to a study by Canaccord Genuity, Apple holds a 4.2 per cent share of the mobile phone market worldwide. However, sales of the iPhone generate 52 per cent of the market’s profits.

Company analyst Michael Walkley said the company could increase its share of industry profits to 60 per cent in the next quarter, the Daily Mail reports.

The study also shows a collapse in profits for former market leader Nokia. According to Forbes, in 2007 Nokia had 67 per cent of mobile phone profits while Apple had four per cent. Now their situations are reversed and Nokia has just four per cent.

Smartphones are by far the most profitable sector of the mobile phone market. Together, Apple and Samsung account for 81 per cent of industry profits.

Read more: Apple may be planning 3D maps for iPhone>

In pictures: Fans queue to be the first with new iPhone 4S>

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