The same but different, somehow

Apple and Samsung have distribution operations who manage the sale of their products to independent retailers in New Zealand.  Here are the aggregate accounts for these operations (for ten years in the case of Apple and seven years for Samsung).

Apple’s distribution to New Zealand is through a company that is resident and operated in Australia while Samsung used a branch of an Australian company up to 2013 and since then has used a New Zealand company.  The accounts of these companies and branches are easily accessible from the New Zealand Companies Office.

Apple’s distributor is slightly more profitable but there is little between them.  The average effective tax rates for the two are also very close.  One of these made front-page news; one didn’t.  A year ago we wondered the same for this side of the world.

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