Apple Smartphone Sales Surge During Holidays

This article was placed on behalf of the U.S. based equity research effort of institutional broker and investment bank Canaccord Genuity. It was part of a series of articles developed under an agreement with forbes.com to work with a variety of contributors and assist them in delivering actionable investment ideas each week. The site, forbes.com is one of the top 500 sites in the world with nearly 10 million subscribers and approximately 100 million page views a month.

Following a look into the holiday quarter for large cap tech companies, Canaccord Genuity technology analyst Michael Walkley noted that strong holiday sales lead to a record smartphone quarter for Apple (AAPL). Mr. Walkley estimated that 2012 holiday quarter sales of Apple iPhones were 38.1 million, a 31% jump from 2012 Q3 sales of 26.2 million.

Mr. Walkley said, “With the iPhone 4S launching in new markets including Brazil and Russia during December and set to launch in China and other markets in January, we anticipate . . . continued momentum into C2012.”

Mr. Walkley estimates that during the first three quarters of 2011, Apple earned approximately 54% of all smartphone industry operating profits.

He noted that Android sales were strong, but the holiday gains were less than Apple’s. For the fourth quarter of 2011 his report estimated that there were 68.9 million android devices sold, a 17.3% increase from the third quarter of 2011.

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