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Falling profits from iPhone sales and strong demand for Galaxy handsets combine to end California firm’s four-year reign – by Juliette Garside, courtesy guardian.co.uk –Apple has lost its status as the world’s most profitable maker of mobile phones, with strong demand for Samsung’s Galaxy handsets pushing the South Korean multinational into the financial lead for the first time.
The California company made an estimated $3.2bn (£2.1bn) profit from iPhone sales in the second quarter of the year, according to the research firm Strategy Analytics, a marked drop from $4.6bn a year ago and less than Samsung’s estimated $5.2bn haul from both its basic models and smartphones in the same period.
While the high-priced iPhone was the engine that propelled Apple to become the world’s most valuable company, its customers are no longer bent on owning the latest model.
Healthy demand for the three-year-old iPhone 4, which is cheaper than the latest…
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