Company also launches updated version of iOS to tackle keyboard frustration.
Apple earned 92% of the total operating income of the smartphone market in Q1, according to Mike Walkley, MD at Canaccord Genuity.
The iPhone creator increased its share against the global top eight smartphone manufacturers from 65% in Q1 last year.
According to the WSJ, Canaccord estimates Apple and Samsung to represent more than 100% of profits, as other companies lost revenue or broke even.
Despite only selling 20% of the worlds smart devices, Apple beat Samsung, Nokia, Microsoft, HTC, BlackBerry and Lenovo in terms of industry operating income.
Last week, Samsung said its Q2 earnings are likely to fall. The results represent the seventh straight decrease year-over-year in quarterly profit for the South Korean firm.
Shortages of its Galaxy S6 phone and economic strains in Europe and China led the company’s profits to fall 6% for the year last Monday.
Apple has also unveiled an updated version of its iOS to answer users’ demand for a more intelligent keyboard.
The new keyboard will show lower and upper cases when the user presses the ‘shift’ button. The old software only let the writer know if the letters were upper or lower case by looking at the ‘shift’ button that would be black for upper and white for lower case.
The full iOS9 release is expected by this autumn, with the beta version already available for download.
The software includes an improved Siri, an enhanced sat nav solution, a ‘Nearby’ feature to help users find what is around them and a constant streaming Apple News tool.