Forecast that a market is going to grow by a third, and investors start to salivate. Tell them it is smartphones, and mouths go dry. There was a time when owning Samsung or Apple and shorting BlackBerry or HTC was an easy trade. But things got harder a year or two ago; competition appears to be eroding high-end handset profits.
如果預測說市場將增長三分之一，投資者便開始垂涎三尺。倘若告訴他們這是智能手機市場，他們的嘴里又會變得干澀。曾經有一段時間，買入三星(Samsung)或蘋果(Apple)的股票，賣出黑莓(BlackBerry)或宏達電(HTC)，是一種顯而易見的賺錢交易。但在一兩年前，事情開始變得困難了，競爭似乎削弱了高端手機的利潤。
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