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Earlier this month, estimates by analyst Tim Long from BMO Capital Markets suggested that Apple accounted for 103.6 percent of the total smartphone industry's profit in Q3, compared with 90 percent of the total share a year ago. Now, a new report by Strategy Analytics has claimed that the Cupertino-based company accounted for 91 percent of smartphone industry's profit during the quarter.

Global smartphone industry generated a total of $9.4 billion in operating profits during Q3 while Apple registered a record share in all smartphone industry's profits, as per report by Strategy Analytics. "Apple's ability to maximise pricing and minimize production cost is hugely impressive and the iPhone continues to generate monster profits," Linda Sui, director at Strategy Analytics was quoted as saying in the report.

Interestingly, Huawei became the most profitable Android manufacturer for the very first time but sat well behind Apple with just 2.4 percent share of the overall industry's profits during the quarter.

"An efficient supply chain, sleek products and effective marketing have been among the main drivers of Huawei's robust profitability," Neil Mawston, executive director at Strategy Analytics, was quoted as saying regarding Huawei's performance in the report. The company reportedly generated $200 million as operating profit from its smartphone business during Q3.

Huawei was closely followed by manufacturers Vivo and Oppo, which captured 2.2 percent share of the profits each.

"Three of the world's top four most profitable smartphone vendors are currently Chinese. Huawei, Vivo and OPPO have not only improved their smartphone product lineups this year, they have also enhanced their operational abilities and kept a tight lid on expanding distribution costs," Sui said.

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