New Economy Forum
The Chinese Smartphone Upstarts Taking on Apple and Samsung
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Apple and Samsung’s domination of the smartphone world is being challenged like never before, with Chinese companies muscling in with cheaper and just as innovative devices.
In an ominous sign for the tech titans -- whose iPhone and Galaxy handsets have had a stranglehold on the almost $500 billion market for years -- China’s Huawei Technologies Co. has unseated Apple to become the world’s second-largest smartphone maker. Now, it’s setting its sights on No. 1 Samsung, which has seen disappointing profits as Chinese phones gain share of a market that looks increasingly like it has peaked.