Apple may sell 20 percent of the world's cell phones, but it pockets 66.3 percent of the world's cell phones profits.

Market intelligence group Asymco has created three graphs showing the incredible transformation of Apple from a niche phone manufacturer in 2007, when the first iPhone launched, to the most profitable phone manufacturer in the world today. The titans of 2007, Nokia, Sony-Ericsson, and LG, are now operating at a loss, while BlackBerry's Research in Motion and Samsung have grown only marginally.

The graphs are also a testament to Apple's famously high margins. Although Apple, Samsung, and Nokia are neck and neck when it comes to phone sales, Apple captures twice the profits of the next three most profitable phone manufacturers combined: Samsung received 15 percent of the profit pie, followed by RIM with 11 percent and HTC with seven percent. So it it should trouble some Apple haters that Samsung and HTC are currently fighting a bitter patent dispute with Apple; it's clear which company has the reserves to pay for all those legal fees.

The last graph, which compares the profit pie from 2007 and 2011, is most revealing. Back then, Apple only had one percent of all operating profits while Nokia had 55 percent, at the time the pie was shared between eight major players. Compare that to last quarter, when Apple captured 66 percent of a profit pie split between only four players: Apple, Samsung, RIM, and HTC.

There was no sign of a next-generation iPhone last quarter (it's widely rumored to be launching this fall), but Apple's Q2 profits went up 9.3 percentage points from the previous quarter and 16.3 percent from Q4 of 2010; this doesn't even include iPad sales.

Meanwhile Nokia, Motorola, Sony-Ericsson, and LG suffered losses last quarter, though smartphone sales as a whole also declined.

Asymco created the charts based on second quarter earnings reports of the world's eight largest cell phone manufacturers.