Chinese Smartphone Industry Overtakes Korean Rival

      December 09, 2014 12:19

      Chinese smartphone makers overtook their Korean rivals in terms of combined global market share in the second quarter of this year.

      Nine Chinese smartphone makers including Huawei, Lenovo and Xiaomi accounted for a combined 31.3 percent of the global market, while Samsung and LG together had 30.1 percent.

      The Federation of Korean Industries on Monday said smartphones are just another business where China has now outpaced Korea in addition to automobile, petrochemicals, and shipbuilding.

      China produced 18.76 million tons of ethylene last year, compared to Korea’s 8.36 million tons. Output of ethylene is used to determine the global ranking of a nation's petrochemical industry.

      An FKI spokesman also pointed out that the average annual revenue growth rate of Korea's display industry stood at 5.6 percent over the last five years, while China's display industry saw revenues grow 29 percent and is highly likely to surpass the Korean industry soon.

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