The iPhone X made much more money for Apple compared to the profit of all Android smartphones combined in the fourth quarter of last year.
Apple previously said that iPhone X sales in the 2017 holiday season did not meet the company's expectations, but that does not mean the smartphone should be considered a failure. In fact, compared to Android smartphones, the iPhone X dominated the market.
iPhone X Grabs 35 Percent Of Smartphone Market Profits
In the fourth quarter of 2017, Apple took home a whopping 86 percent of the profits of the smartphone industry. Out of the total, more than one-third was taken by the iPhone X, which generated 35 percent of the total profits of the market.
With only 14 percent of the profits of the industry made by Android smartphone manufacturers, this means that the iPhone X made about two-and-a-half times more money compared to all of them combined. The report added that the iPhone X actually generated five times more profit compared to 600 Android smartphone makers in the quarter.
The figures come from a new report generated by Counterpoint Research, which predicts that this year, Apple and its iPhones will face better competition. However, the analysis firm has made this claim for the past two years, and Apple has not shown any signs of giving up an inch to its rivals.
iPhone X vs Android Phones
The findings of the study are not really new, as premium flagship smartphones make much more profit compared to entry-level devices. Apple and Samsung have dominated that market over the past few years, but Apple has moved ahead.
Android smartphone sales, collectively, are much higher compared the iPhone sales. However, Apple has worked out the formula for consistently generating significant amounts of profit from its products, which is seen in the iPhone X.
What's Next For The iPhone X?
Rumors claim that Apple will be launching three iPhone models this year, namely an upgraded iPhone X, a larger iPhone X, and a cheaper iPhone X.
However, there have been conflicting reports on the prices of the upcoming iPhone X successors. While some analysts believe that Apple will slash the iPhone X price to make the smartphone more accessible to customers, there are others who think that customers should expect a more expensive iPhone X.
These reports may all be true though. With the rumored three iPhone X successors, Apple may be releasing a model at various price points to meet the needs and budget of a wider range of users.