Market research firm Strategy Analytics concluded from their latest study that Apple holds a majority portion of Smartphone profits. Global Smartphone operating profit share for Apple iOS rose from 70.5% in Q4 2013, to 88.7% in Q4 2014.

Of course, someone had to lose a share of the pie for Apple to gain some. The biggest loser is Google. Android's global Smartphone operating profit share dropped from 29.5% in Q4 2013, to a low 11.3% in Q4 2014.

Strategy Analytics notes that "Apple's strategy of premium products and lean logistics is proving hugely profitable."

In terms of cold hard cash, Apple iOS had $18.8 billion global Smartphone operating profit in Q4 2014, which is nearly double of the $11.4 billion in Q4 2013. During the same period, Android's Smartphone operating profit dropped from $4.8 billion in Q4 2014, to a measly $2.4 billion in Q4 2014.

"Android's weak profitability for its hardware partners will worry Google," Strategy Analytics concludes.