FORTUNE -- To simplify the chart at right -- drawn from data sent to clients Tuesday by Canaccord Genuity's T. Michael Walkley -- I've left out Nokia (NOK), Research in Motion (BBRY), Motorola (GOOG), Sony (SNE), LG and HTC.
That's because between them, Apple (AAPL) and Samsung shared virtually all the profits made selling mobile phones -- smart and not-so-smart -- over the past year and a quarter.
With the exception of BlackBerry (which turned a small profit one quarter) and HTC (three quarters), all the other major players in the game either broke even or lost money. (Those losses explain why in several quarters Apple's and Samsung's shares added up to more than 100%.)
Apple continues to collect far more of the industry's profits than its market share (8% in 2012, by Canaccord's estimate) would suggest. But according to Walkley, its run of taking the lion's share of those profits may soon come to an end.
"During the June quarter," he writes, "we believe softer iPhone sales combined with Samsung Galaxy S4's global ramp should result in Samsung surpassing Apple for the top share of handset industry profits."
Below: Canaccord's income and profit spreadsheet.
America's big telcos are struggling to survive the implosion of the local phone business. Now, the latest figures show revenue from cell phone calls is beginning to disappear too.
FORTUNE -- Back in the 20th century, selling phone calls to Americans seemed a practically perfect business, growing during good times and bad -- and turning AT&T into the nation's most widely held stock. Selling phone calls in the 21st century is proving a MOREScott Woolley - Nov 4, 2011 11:52 AM ET
Can so-called Super Wi-Fi bring high speeds and low costs to rural Americans? xG Technologies thinks so.
NB: This is the second story in a two part series about rural broadband access in America. To read the first part, please click here.
FORTUNE -- Engineers have long dreamed of using cheap wireless networks to do an end-run around the companies that now provide Internet access and cell phone service. Those dreams have MOREOct 18, 2011 10:59 AM ET
FORTUNE -- Next time you whip out your iPhone on the sidewalk or the subway, you might first want to glance over your shoulder. Smartphones have become a favorite target of thieves who do what the police call a snatch and grab. One favorite M.O.: The perp grabs a phone and jumps off the train just as the doors are closing. So far this year, over 40% of thefts in MOREOct 17, 2011 5:00 AM ET
Verizon's unions face problems that picket lines simply can't fix.
FORTUNE -- The union representing the 45,000 Verizon Communications' (VZ) employees who went on strike yesterday says that the company is using "Wisconsin-style tactics" in an effort "to strip away 50 years of collective bargaining gains for middle class workers and their families." The striking workers also made a point of highlighting the hefty $6 billion in profit they estimate Verizon will make MOREScott Woolley - Aug 8, 2011 10:55 AM ET
Frog Design's Jan Chipchase interviews residents of the world's hot spots so big business doesn't have to.
Jan Chipchase is the Indiana Jones of technology for the developing world. The British-born, Shanghai-based researcher travels the globe, trying to understand how and why the planet's poorest people would use cellphones and other gadgets. Part cultural anthropologist and explorer, and part designer and entrepreneur, Chipchase uses his findings to develop new products and MOREJessi Hempel, writer - Nov 29, 2010 3:00 AM ET
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