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iPhone shipments might be declining and iOS might be losing market share to Android, but Apple continues to dominate the smartphone market where it matters the most: profit. As per BMO Capital Markets analyst Tim Long, Apple managed to grab 104 percent of the total profit generated by the smartphone market in the third quarter of 2016. An impressive feat considering iPhone shipments only accounted for 12 percent of the total smartphones shipped in Q3, 2016.
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