Smartphones are at the top of the S curve. Incremental improvement YoY is getting smaller and smaller. What exactly are the big deals about iPhone X? Edge to edge display? OLED? FaceID? These are all improvements, but pretty small.
Huawei/OPPP/ViVo will continue to eat into Samsung and Apple’s shares. They already dominate the Chinese market, and they are starting to dominate the Indian market too. I think they will just eat the entire developing markets and start to show up in the First World. Will you pay $500 more just so you can unlock your phone with your face? Some will. Many won’t.