Lenovo, which recently assumed the mantle of No. 3 global smartphone maker with the closing of its $2.91 billion acquisition of Motorola Mobility, nevertheless saw its mobile revenue slip in the third quarter. Further, CEO Yang Yuanqing warned of the end of "hypergrowth" in the Chinese smartphone market.
We are now entering a new phase of competition in the global smartphone market and the likes of Lenovo and Xiaomi are poised to make life a lot more difficult for market leaders Samsung Electronics and Apple. How Samsung and Apple respond will go a long way to determining whether they can maintain their status as market leaders, though I think Samsung has a lot more to worry about right now than Apple does.
Xiaomi became the world's third-largest smartphone maker by market share for the first time during the third quarter, although it stands to immediately lose that status after Chinese rival Lenovo completed its acquisition of Motorola Mobility.
Lenovo officially closed its $2.91 billion deal to buy Motorola Mobility from Google, a move that immediately turns Lenovo into the third largest smartphone player in the world by market share. Lenovo, which is popular in China and many markets where Motorola doesn't play, will use a dual-brand strategy to grow the combined company's mobile businesses in emerging markets.
HALF MOON BAY, Calif.--Motorola Mobility has been through several near-death experiences in the past few years, but its impending acquisition by Lenovo will allow it to double the number of markets it competes in and ride the trend toward lost-cost smartphones, according to Motorola President and COO Rick Osterloh.
Google officially unveiled Android 5.0 with the nickname "Lollipop," in keeping with its dessert-themed names for its Android releases, and also announced three new devices in its Nexus device program.
Verizon Wireless is still in love with "Droid." The carrier sent out invitations for a media event Oct. 28, where it is expected to launch a new Droid-branded Android smartphone from Motorola Mobility, rumored to be called the Droid Turbo.
Google will release a 5.9-inch phablet later this month designed by Motorola Mobility as its latest Nexus smartphone, according to a Wall Street Journal report.
Apple maintained its dominance in the U.S. smartphone market over the summer, according to the latest figures from research firm comScore. Given the boffo opening sales weekend Apple had for its new iPhone 6 and 6 Plus, that lead is likely to swell through the fall.
The smartphone revolution has greatly expanded the size of the handset market with global revenues doubling in the last six years, as consumers substitute more expensive smartphones for their feature phones and basic phones. Yet changes have devastated most of the leading incumbent handset vendors.