Apple Now Has 50% of Smartphones Industry Profits Ahead of First 100M iPhone Year

With just iPhone sales, Apple has now claimed roughly 50 percent of the entire handset industry's net earnings during the first quarter of 2011, according to Canaccord Genuity analyst T. Michael Walkley.AppleInsider reports that an analyst for the firm Canaccord Genuity, said that "sales of the iPhone are stll strong even as many other phone […]

With just iPhone sales, Apple has now claimed roughly 50 percent of the entire handset industry's net earnings during the first quarter of 2011, according to Canaccord Genuity analyst T. Michael Walkley.

AppleInsider reports that an analyst for the firm Canaccord Genuity, said that "sales of the iPhone are stll strong even as many other phone makers have released a number of high end Android-based smartphones with things like bigger screens, 4G connectivity and more. Even with the iPhone now being sold by two wireless carriers here in the US, Walkley states that it is still the best selling smartphone over at AT&T, who had the exclusive on the phone until Verizon started selling its version earlier this year."

At Verizon Wireless in particular, Walkley said his checks indicated the iPhone 4 was the #1 selling smartphone during June despite six new high-end Android smartphones from OEMs such as HTC (Thunderbolt - LTE, Incredible 2), Motorola Mobility (Droid X2), Samsung (Droid Charge - LTE), Sony Ericsson (Play), and LG (Revolution - LTE) launching in the last couple months.

"Further, with Verizon not allowing subsidies to customers that're still under a two-year contract, we anticipate steady upgrades by Verizon customers to the iPhone will continue over the next several quarters," he said. "As a result, we believe the iPhone will remain the top- selling smartphone at Verizon throughout 2011."

That said, Walkley is forecasting Apple's share of smartphone unit sales to actually fall from an estimated 16.0% in 2010 to just 15.2% by the end of 2012. However, as consumers continue to trend towards smartphones, that 15.2% will equate to just over 100 million units, or roughly 25 million iPhones per quarter.

[Source: Appleinsider]