Chinese smartphone makers post higher quarterly profits

Combined profits of Chinese smartphone brands crossed $1.5 billion for the first time in a single quarter as they ratcheted up resources to make inroads into the premium segments, a new report said.

According to the latest report by Counterpoint Technology Market Research, the cumulative profits of Chinese brands crossed $1.5 billion in the third quarter of 2017, due to their efforts to streamline the supply chain and the rising mix of mid to high end smartphones in their portfolios.

Tarun Pathak, associate director at Counterpoint, said usually, most of the profits were shared by just two brands-Samsung Electronics Co and Apple Inc. However, Chinese brands have now made inroads, he said.