Samsung Overtakes Apple As Most Profitable Phone Maker

As an Apple fanatic, it physically pains me to tell you this - but for the first time in four years, Apple is no longer the most profitable mobile phone maker in the world. That honor now belongs to Samsung. Research firm Strategy Analytics says that  Samsung’s operating profits hit $5.2 billion during the second quarter, while Apple only brought in a mere $4.6 billion. Samsung’s success, the Strategy Analytic’s Executive Director Neil Mawston said, has been due mainly to its “strong volumes, high wholesale prices, and tight cost controls.” Apple is facing increased competition from other companies that may require it to change its strategy. “Apple is now under intense pressure to launch more iPhone models at cheaper price-points or with larger screens to fend off the surging competition and recapture lost profits in the second half of 2013,” he said. Either way - $4.6 billion or $5.2 million is not too shabby.

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