Samsung’s global smartphone profits largest in 6 years in third quarter

Samsung Electronics narrowed the gap with Apple in terms of profit shares in the third quarter, with more than 30 per cent smartphone market share globally, a new report said on Friday.

The South Korean tech giant accounted for a 32.6 per cent share of profits worldwide generated from the smartphone segment in the third quarter, up from a 18.8 per cent share a year earlier, according to market researcher Strategy Analytics.

The latest figure was the largest for Samsung since the second quarter of 2014, when it took 37.9 per cent of global smartphone profits.

Apple defended its status as the world’s most profitable smartphone vendor with a dominant 60.5 per cent share in the third quarter. But its market share was down from 66.9 percent from a year ago, reports Yonhap news agency.