Look at how Apple has sucked up all the profits in smartphones

Apple now makes 94% of the profits in the smartphone industry, according to recent research by Canacord.

This historical chart compiled by Statista shows how quickly and utterly Apple has dominated the smartphone market. Samsung is now the only other major handset company earning significant profits from smartphones.

Five years ago, the iPhone was still the top profit-maker, but a lot of other companies were in the game. Since then, the platform battle has become a two-player race between Apple's iOS and Google's Android, driving third-way competitors like BlackBerry and Microsoft/Nokia down into the loss zone. The fierce competition between Android handset makers, particularly with the rise of inexpensive Chinese Android phones, has also sucked a lot of profit out of the market.

20151117_Smartphones_BI

(Statista)

More From Business Insider

• A Paris man who was talking on the phone when a bomb went off says the Samsung device saved his life
  

• What Apple employees say about the company's secretive internal corporate culture
  

• A tiny change in Apple's software could have brought about the 'app Renaissance' — but it's now looking unlikely