Mathematically, this is obviously true, but at the same time such calculation has limited meaning. In particular, Apple making 104% of the industry's total profit wouldn't stop anyone else making another 208% of the total industry's profit, see example:If we are in the same industry and I make $100 but you lose $50 (or make a -$50 profit), the total profit across the entire industry (your "profit", and my profit) is $50, because your loss pulls the total profit for the industry backwards. So my percentage of the industry's profit is the profit I made divided by the industry profit times 100 (to convert from decimal to percent) or ($100/$50)*100=200%. Therefore I made 200% of the industry profit. In this case the iPhone is almost the ONLY phone that actually makes money. Samsungs profit share was 0.9% and HTC and LG lost money. That's what happens when you sell millions of devices at a loss.
- Apple: 104bn
- TechCom: 208bn
- others: -212bn
= total: 100bn
Or imagine a case where the total profit was zero. In such case, all the analyst's Excels and computers would break and burn because of the division by zero.