Here’s why Samsung Pay is better than Apple Pay right now

Both Apple and Samsung’s mobile payment systems work with UnionPay’s QuickPass technology, which allows consumers to pay for purchases by simply waiving their near-field communications (NFC)-equipped mobile device in front of a QuickPass-enabled payment terminal. Can Huawei top both Apple and Samsung in five years?

More and more Koreans are expressing their willingness on social media to replace their Samsung, LG and Apple devices with Chinese smartphones. The newspaper highlighted the price differential – a good Chinese smartphone costs less than $200 compared to around $650 for an iPhone or top-end Samsung Galaxy – while also observing that phone innovation had slowed so that the differences between these products could now seem marginal to buyers. Unlike Apple, however, Samsung may have a relatively easy time engage consumers with its new service.

Xiaomi’s Mi 5 is powered by the ultra-fast Qualcomm Inc.

Yu also revealed that the company will be releasing some virtual reality (VR) devices this year, including a headset and a flagship phone that will support the technology. Profits from the mobile business have plunged to less than half of what it was in its heyday. Melissa Chau, senior research manager at IDC, noted that Chinese companies have been rapidly catching up on phone design and quality. Samsung-Sanyo Electronics followed in 1969, and merged with Samsung Electronics in 1977. Chinese consumers are used to using Alipay and WeChat, as they provide significant discounts and subsidies to their mobile payment users.

Huawei has been growing robustly over the past five years and is expected to see its shipments expand over 30% on year in 2016, Yu said on the sidelines of the ongoing MWC 2016.

The smartphone maker, which is valued at around $45 billion, has seen huge growth due to its tactic of selling low-price, high-spec smartphones and using a mix of social media and selling direct to the consumer to build its brand.

It took up 3.3 percent of the market in the fourth quarter of a year ago, Strategy Analytics said on Monday. This could be the attempt of the Huawei brand to start the competition early of this year among its closest competitiors Samsung and Apple.