“With just 4.2 percent of the global mobile phone market, Apple’s iPhone accounts for a massive 51 percent of the total profits, a new report claims,” Josh Ong reports for AppleInsider.

“Apple continues to dominate the market when profit is measured, according to a new report from Asymco’s Horace Dediu,” Ong reports. “The iPhone maker managed to add one percent to last quarter’s 50 percent share of profits from the top eight mobile phone vendors in the December quarter, the report noted.”

Ong reports, “Apple revealed earlier this month that it sold 16.24 million iPhones in its first quarter of fiscal 2011, resulting in $10.5 billion of revenue for the company… The Cupertino, Calif., company hit a major milestone in the December quarter when it passed Nokia to become the world’s largest mobile phone vendor in terms of revenue… The iPhone’s share of global handset profits has been steadily climbing. In August of 2009, Apple was reported as making 32 percent of the industry’s profits.”

Full article here.

MacDailyNews Take: Apple is moving like a tremendous machine! Yes, ’tis true, Apple is the Secretariat of the tech industry, surrounded by glue factory-bound nags; shams all.