Has Samsung Lost Its Grip To China?
The precipitous deterioration of Samsung Electronics mobile-phone business raises the question: Will Chinese companies soon rule the smartphone market? The world’s biggest smartphone maker by sales said Thursday that its third-quarter net profit dropped 49% as less-expensive handsets, chiefly from China, ate away at its business. A trio of market-tracking firms confirmed that the South Korean technology company is losing ground even faster than many analysts had predicted.
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