Crossed wires for phone firms

Demand petering out in China as handset penetration rate peaks during first quarter, according to IDC

Is Chinese buyers' appetite for smartphones slowly running out of steam? At least for the time being it appears so, after the world's largest smartphone market recorded an unprecedented shipment contraction during the first three months of the year, an industry report said on Monday.

Demand for mobile handsets is hitting ceiling in China after six years of rapid expansion, said the report published by International Data Corp, a major research firm.