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The Week in Review: Innovation at risk as smartphone bubble burst

Handset makers chase global scale, but few will survive it, as mobile innovation shifts to cars, virtual reality and even the MNOs

Can globalization and innovation go hand-in-hand? It’s a question often asked by economists, and it was lurking behind many of the events of this week.

The smartphone market, for instance –the bubble has burst, with growth slowing (IDC cut its forecast for 2016 and believes the increase in shipments will barely top 3% worldwide. The squeeze on revenue and profits will be worse, with much of the remaining growth coming in the cost-competitive mid-market.

The answer in mass consumer markets is for a few players to consolidate and globali

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