The position now held by Apple and Samsung in smartphones is unprecedented even in an industry known for consolidating profits.
Do you love your smartphone? Of course you do. It's transformed your life in the past five years (except you hate having to fish it from your pocket every time you just want to check the time).
Apple and Samsung love them too. The two consumer-electronics giants now account for a whopping 81 percent of gross profits in handset business.
IHS iSuppli analyst Lee Ratliff reports that in 2007, the year the iPhone was introduced, gross profits for the smartphone industry were $13.4 billion. Last year, they rose to $75.3 billion, or the equivalent of $116 in gross profit per smartphone.
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