Samsung leads the world in smartphone market share, and at a time of ascendant mobile computing, that seems like a great place to be. So why does the future look so glum for the South Korean hardware giant? On Tuesday, the world’s dominant smartphone maker said that its third-quarter profits would likely drop by about 60 percent and overall sales by more than 20 percent compared to the same time last year, blaming “intensified smartphone competition” for the decline. The prediction comes just weeks after chief rival Apple released its own phablet-sized thumb-busters to compete with large-screen devices from Samsung. Strong sales of the iPhone 6 and 6 Plus could be eating into Samsung’s revenues. But that’s not the only force at work here.

Read the full story at Wired.

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