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He expects a wave of rivals to follow.
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Xiaomi is strongest in China, but it has come under pressure at home at a wave of Android rivals including Huawei, Oppo and Vivo have found success with competitively priced phones and an offline sales strategy.
Thanks to a wave of consolidation, its rivals face the same problem.
Last November Google, which pampers its staff with everything from free food and tax advice to pre-natal classes for expectant fathers, announced a $1,000 cash bonus and a 10% pay rise for everyone, hoping to stem a wave of defections to rivals such as Facebook.
So while the Gophers head into the postseason on a wave of confidence, their conference rivals have some serious work to do.
Analysts predicted that the downbeat news will set off a wave of lowered forecasts from rivals over the next few weeks.
South Sudan, the world's newest country, has been engulfed by a wave of deadly raids by rival communities, which have left an unknown number of people dead.
"It's amateur hour at Minsky's," Forstmann says with a wave of the hand, dismissing his rivals and many of the deals they are doing these days.
The chief executive of BBC Worldwide has said its new TV download service is not an attempt to muscle in on the market of the new wave of rivals such as Netflix.
The elder had championed Voom as a wave of the future, seeking to rival EchoStar and DirectTV.
A shy man who shunned the limelight, Mr Khumalo's reputation was damaged further when it transpired that he was an autocrat who ignored JCI's board.While JCI has floundered, a wave of consolidation has engulfed its bigger rivals.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com