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.
如果预测说市场将增长三分之一，投资者便开始垂涎三尺。倘若告诉他们这是智能手机市场，他们的嘴里又会变得干涩。曾经有一段时间，买入三星(Samsung)或苹果(Apple)的股票，卖出黑莓(BlackBerry)或宏达电(HTC)，是一种显而易见的赚钱交易。但在一两年前，事情开始变得困难了，竞争似乎削弱了高端手机的利润。
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