TORONTO -- Apple and Samsung hold a combined unit market share of 47.6% for smartphones, yet earn 99% of industry operating profits.

According to Canaccord Genuity technology analyst Michael Walkley, the two firms' combined share will inch up to 52% by 2012.

Walkley expects a robust second half of 2012, thanks to the ramp of the Samsung Galaxy S III smartphone and HTC One series coupled with an expected iPhone 5 in October. "We anticipate more H2-weighted 2012 smartphone sales than normal seasonal trends," he said.

Table 1. Apple and Samsung Smartphone Unit Sales Forecast, 2012-2013