Analyst: Apple's iPhone captures 103.6 % of smartphone profits in wake of Samsung Note fiasco
Friday, November 4, 2016 at 10:31AM 
Analysts at BMO Capital Markets estimate that Apple captured 103.6 % of total smartphone industry profits in the wake of Samsung's monumental product recall for its faulty and now discontinued Galaxy Note 7 flagship. Samsung's profits are at 0.9%. BMO says that Apple also took more than 100 % of profits because a majority of vendores (i.e. LG, HTC) recorded losses on theri smartphone divisions this third quarter.
Samsung tried to steal the thunder from Apple's iPhone 7, they rushed their product to market and even bumped up the name to Note 7 (foregoing the Note 6). This backfired completely when Note 7 devices started exploding and causing fires. This propelled Samsung's brand into notoriety to the extent that no Note 7's were allowed on any airlines and the company recalled the product to the tune of $2 billion loss.