Canaccord: Apple accounted for 93% of smartphone profits in Q4

Apple captured 93% of smartphone profits during Q4 last year, according to leading financial services company Canaccord Genuity, which has raised its price target on the Cupertino-based company to $145 from $135.

Analyst Mike Walkley said that market data suggests continued strength for the iPhone 6 upgrade cycle, and predicted that by the end of the year 2018, the iPhone maker may have a third of all smartphone users.

As you can see in the chart shown above, Apple and Samsung are the only two companies to register significant profits in the industry during Q4 last year. For the whole of 2014, Apple captured 79% of profits.