Despite a reported annual growth of 7.5 percent, the global smartphone market arguably went through one of its toughest quarters yet between July and September 2016. At the top of the manufacturer ranks, both Samsung and Apple lost precious share, while the further consolidated OS duopoly looks on the verge of turning into a dangerous monopoly.

But that’s strictly speaking from a sales volume standpoint, because iPhones somehow yielded 103.6 percent of the industry’s Q3 profits, considerably up from an already impressive 90 percent or so during the same period of last year.

How is it even mathematically possible for a single device vendor to rack up all of such a seemingly lucrative and competitive market’s financial gains, and then some? It’s simple: almost no one else in the business made any money at the end of the day, with LG and HTC singled out as the quarter’s biggest, highest-profile losers.

Samsung, meanwhile, was both a profit and shipment winner, though its piece of the worldwide earnings pie shrunk from 11 percent in Q3 2015 and 14 for the whole year to under 1 percent now. 0.9, to be exact, as Galaxy Note 7 damage control strategies mostly failed. No words on Huawei’s performance in recent BMO Capital Markets analysis, with the rising star’s ambitions still focused mainly on sales numbers.

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