Apple & Samsung capture 103% of handset profits as rivals lose money

Together, Apple and Samsung accounted for 103 percent of mobile phone profits in 2012, a number made possible because of losses incurred by rivals Motorola, Sony and Nokia.

Apple took a commanding 69 percent of handset profits last year, more than doubling the next closest company, Samsung, which accounted for 34 percent. Together, that gave the two companies more than 100 percent of the industry's profits, according to research released on Wednesday by Canaccord Genuity.

That's because Nokia's losses gave it a negative 2 percent of industry profits, while Motorola and Sony Ericsson both accounted for minus 1 percent.