Some Chinese device manufacturers may go out of business as local market slows down

Some Chinese smartphone manufacturers may go out of business this year.

It sounds unbelievable but the latest sales figures from within the Great Wall indicate a market fast approaching saturation according to financial expert Doug Young who is a former China company news chief for Reuters who teaches financial journalism at Fudan University in Shanghai.

The latest data on China’s booming smartphone sector show an industry that has crossed a tipping point in 2014, with sales starting to sag after several years of explosive growth and this could hurt domestic manufacturers, even forcing some to go out of business.

While leading, well funded players like Huawei, Lenovo , ZTE and Xiaomi, may have the resources to survive the slowdown, smaller names like OPPO and OnePlus may not be so lucky. Young expects two maybe three brands will be forced to close before 2015 ends.

Full story here.