Huawei Technologies has displaced Samsung Electronics to become the second most profitable smartphone supplier in the world in the three months ended September 30, although Apple remains the smartphone industry leader.

According to research firm Strategy Analytics, the Shenzhen-based company had a 2.4 per cent share of the global smartphone operating profits in the third quarter, behind Apple's dominant 91 per cent share.

Huawei has also became the world's most profitable Android smartphone vendor for the first time, and Strategy Analytics expects the company to maintain steady profitability into the first half of 2017.

Vivo and Oppo Electronics also showed that same momentum, as the two Chinese Android smartphone brands each cornered a 2.2 per cent share of global smartphone operating profits in the third quarter.

Strategy Analytics estimated that Apple generated US$8.5 billion in operating profit in the third quarter, while rounding out the gains made by Huawei, Vivo and Oppo at US$200 million each.

It said global smartphone operating profit - earnings before interest and tax - totaled US$9.4 billion in the quarter to September, down from US$13.5 billion in the same period last year, as an economic slowdown impacted sales around the world.

Richard Yu Chengdong, the chief executive at Huawei's consumer business group, said last week that the company aims to become the world's second-largest maker of smartphones within two years.

But Samsung is expected to return as the world's second-most profitable smartphone supplier behind Apple after it clears up the Galaxy Note 7 mess and launches a new flagship product like the rumored Galaxy S8.

Samsung tumbled to ninth in the third quarter. The South Korean firm last month permanently halted all production of its Note 7 amid increased concerns about the device catching fire while charging.

Research firm IDC last month estimated that Huawei had a 9.3 per cent market share in the third quarter to remain the global No 3 smartphone supplier, behind Samsung and Apple. Oppo and Vivo followed with a 7 per cent and 5.8 per cent global share, respectively.