Research firm Counterpoint, in its latest study, has ranked global smartphone manufacturers in terms of their profitability.
The study has ranked smartphone manufacturers based on their average profit per phone sold.
Here's all about it.
List of most profitable smartphone manufacturers
Chinese smartphone makers reach a milestone
For the first time ever, cumulative profits of Chinese smartphone manufacturers have crossed the $1.5 billion mark in one quarter - Q3 of 2017.
Apple commands the lion's share of smartphone industry profits
Apple remains the market leader and commands a 60% share of the smartphone industry's profits.
However, compared to the same quarter last year when Samsung had its Galaxy Note 7 fiasco, Apple's profits are down by 86%.
Yet, Apple still makes a minimum profit of $150 per iPhone sold, and profits are expected to increase owing to high demand for the iPhone X.
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Samsung made a strong comeback after Galaxy Note 7 issue
Despite its Galaxy Note 7 fiasco in 2017, Samsung had a good year business-wise.
Samsung currently commands 26% of the smartphone industry's profits.
Its return was significantly driven by demand for the Galaxy S8 and the Galaxy Note 8 in the third quarter of 2017. Mid-tier J series sales also helped.
Samsung currently makes a profit of around $31 per unit sold.
Huawei sees the maximum YoY profit growth
Chinese tech giant Huawei comes third.
The smartphone manufacturer currently commands around 5% of the smartphone industry's profits.
Additionally, Huawei witnessed the highest year-on-year profit growth in Q3 2017, with a profit growth of almost 67% compared to the same quarter last year.
Huawei's growth was largely driven by its Mate and P series phones, with the company making $15 profit per unit.
OPPO & Vivo
OPPO and Vivo take fourth and fifth spot
Chinese smartphone makers OPPO and Vivo captured fourth and fifth spot in the global handset profit share with 4% and 3.1% shares respectively.
The companies' growths were driven by their strong performances in China.
Profit margins of OPPO and Vivo remain similar to Huawei's, with per unit profit being $14 and $13 respectively.
Xiaomi has a long way to go
Despite not being in the top five, Xiaomi has made a strong comeback with a year-on-year profit growth of 41%.
Xiaomi's sales remain skewed towards lower end models, and it needs flagship phone sales if it's going to compete with the likes of Huawei, OPPO, Vivo.
Xiaomi currently makes a profit of $2 per phone, and is rumored to be in the pre-IPO stage.
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