Apple iPhone Sales Plummeting But Not a Hindrance as the Tech Giant’s Huge Profit Gains Continue to Rise

The declining sales of Apple iPhones over the last fiscal year did not cause any dent on the tech giant's mobile phone sales as Apple continues to rake in huge profits from iPhone fans. Apple iPhone sales prove to be resilient as it continues to make competition irrelevant, as the company has reported to have reached an all-time high market share gains during the third quarter of 2016.

According to BMO Capital Markets analyst Tim Long, the estimated profits from Apple iPhone sales alone could reach up to 103.6 percent of the entire smartphone industry all over the world during the last quarter. The BMO analyst further added that by comparison, Apple has snatched a whopping 90 percent of all smartphone profits combined.

This report seems to prove that Steve Jobs' magic is still evident among Apple device users, even though it has been five years since the Silicon Valley visionary died.

"Emerging markets will dominate smartphone growth, at 4 percent, while developed markets will decline less than 1 percent," the BMO analyst said. As the smartphone shipments ballooned to 346 million units last quarter, long predicted that this number will grow further at a 2.6 percent compound annual rate from 2015 to 2019.

Samsung is still Apple's closest competitor, albeit by a large margin, staying as Apple iPhone's distant runner up and scooping a tiny market share of 0.9 percent.

However, analysts are not really that surprised about this as the Apple rival is still recovering from the fire-catching Galaxy Note 7. To put everything in perspective, Android is still being used by nine out of 10 smartphones to date. Taking this data into account, the smartphone industry is surprised by how Apple manages to maintain its huge lead among the other iPhone competitors. This impressive sales has also helped maintain investor trust despite criticisms that Apple products have started to get a bit stale and less innovative.