iPhone profit share increases further

Whatever you may say of the iPhone and its marketshare being eaten away by cheap Android phones, Apple has always been the king of earnings or profit share in the global smartphone market. iPhone's might not have sold to the expectation of Wall Street (which expected more than the 51 million iPhones that were sold last quarter) and its profit margin might be slowly coming down (as more consumers turn to smartphones, more of them cannot afford higher costs for their smartphone and hence prefer lower cost iPhones, hence driving Apple's profit margins lower), but again compared to the rest of the market, Apple's profit share is actually increasing, according to Raymond James analyst Tavis McCourt [via MacDailyNews]. 

Apple (AAPL) and Samsung continue to soak up all the industry’s profits, McCourt says. Apple claimed 87.4% of phone earnings before interest and taxes in the fourth quarter, he said. Samsung took in 32.2% of industry profits... A year ago, Apple accounted for 77.8% of mobile phone industry profits, followed by Samsung with 26.1%, McCourt said.
— McCourt via MacDailyNews

What? iPhone took 87% of the profit share last year, compared to 77% the year before?? And how does the sum total of Apple's and Samsung's profit share result in a figure greater than 100%? First of all, if some of the companies manufacturing smartphones like Nokia, HTC, LG, etc. are selling their smartphones at a net loss, then the above calculation gets bizarre. Hence the total greater than 100%. But in an absolute sense, Apple is earning more than 87% of the total profits (including losses) that are being made in the smartphone market. And of course Samsung is the only other and only Android smartphone manufacturer, that makes any profit. Android is fast being swallowed by Samsung.