find a current events that deals with business and write a s

find a current events that deals with business and write a summary about it.

Required: have to be from a liable source

Solution

The market of Chinese smartphone brands in China is shrinking in a big way. China is considered as the biggest smartphone market in the world but the sales have declined sharply from the past year. But the local brands are losing their market share to the international brands like Samsung and Apple. The sales of the popular Chinese brands like Oppo and Vivo have fallen by almost 10% in 2017. Even though Apple came with the new products like iPhone 8 and iPhone 10, the people have not been very excited about them and the sales are not expected. So this is a big worry for all the smartphone makers around the world. China led the way in terms of smartphone business but it is taking a very bad hit. The last quarter of 2017 was a nightmare for the local brands in China as the shipments went down by 14%. The only local brand that could manage a bit of growth in the last year was Huawei and it increased the shipments by 9%. In 2018, a similar trend can be expected and the market should be ready to see the worse in China. This event has made many players to market their products aggressively but only time can tell what the end result will be.