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China's upstart smartphone maker warns shakeout will get worse

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"A lot of pure plays will disappear and big companies will withdraw from the phone market," said Mr Pei.

Hong Kong

THE co-founder of one of China's hottest smartphone makers says a shakeout in the industry is going to get worse before it gets better as dozens of companies with similar products battle for market share and Apple Inc collects virtually all the profits in the business.

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