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Fascinating snapshot of how fragmented the smartphone market has become. The regional players like VGO Tel, Cherry Mobile and Walton show how localized assembly and distribution still matter even in a supposedly globalized tech category. What's interesting is the polarization, premium consolidation around Apple/Samsung while the mid-range explodes with Chinese brands competing on specs-per-dollar. The "running after the wind" analogy fits because by the time you catalog everyone, three morerebrands and white-label ODMs have launched.

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