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Phones

Apple iPhone X scored 35% of Q4 2017 profits, says report

Step 1: Be Apple. Step 2: Release expensive phone. Step 3: ??? Step 4: Profit

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Sarah Tew/CNET

The iPhone X is one of the most expensive phones available today, and evidently it makes Apple a lot of money.

A report by research firm Counterpoint says the Apple iPhone X was responsible for 35 percent of profits for the entire handset industry in the fourth quarter of 2017.

The report, as cited by CNBC, goes on to note that while the market itself didn't grow as expected, Apple kept its status as the most profitable brand, bringing home 86 percent of the profits in the phone market. 

The report also noted that iPhone X generated five times as much profit as more than 600 Android phone makers in Q4 2017.

Apple's own February earnings report did not break down individual models like the iPhone X from its other phones such as the iPhone 8 and 8 Plus, but the company did say that it sold 77.3 million iPhones, down 1 percent from the previous year. The higher prices of its new phones did drive Apple to post all-time records in quarterly profit and revenue, however.