Trends and challenges in Chinas smartphone market has implications for job market

In recent decades we have seen China develop into the worlds second-largest economy and increase its presence in numerous industries. One of the most notable trends of the past few years has been the explosion of the smartphone market. Lenovo Group Ltd. said the sector has been going through a phase of hypergrowth that is only just starting to slow. The Beijing-based electronics company posted revenue growth of 7.2 percent for the third quarter of 2014, the smallest increase since March 2013. In an interview with Bloomberg, Lenovo chief executive officer Yang Yuanqing said: The industry is changing from in the past, when China grew much faster than the rest of the world. The market is changing, and China will not see further hypergrowth. Despite this forecast, there is no doubt China is now a key part of the global smartphone industry. Lenovo has moved to secure its position in the fiercely competitive marketplace with the USD2.91 billion purchase of Motorola Mobility from Google, which made it the worlds third-biggest smartphone maker behind Apple and Samsung. Yang said: Lenovo will be number three in the global smartphone market, but definitely we will not stop here. We want to become the leader in the smartphone and mobile devices area. In the domestic Chinese market, Apple has overtaken Samsung to become the leading mobile brand this year, according to the China Brand Research Center. Samsung lost the top spot, which it had held since 2012, following a survey of 13,500 Chinese consumers assessing brand awareness and loyalty, CNET reported. The China Brand Research Center said one of the reasons the Korean electronics group had lost out was its emphasis on market share over customer experience. If companies (are) focusing too much on market share, while ignoring the concerns of consumers, it will cause a problem in brand management, the report said. Meanwhile, other big names in consumer electronics have been struggling to retain a foothold in the Chinese market. Sony has decided to take a step back from Chinas mobile sector, partly because of stiff competition from local brands such as Xiaomi and Huawei, which have been making their presence felt on the global stage. The Wall Street Journal recently reported that handsets produced by Chinese companies now account for 38 percent of the international smartphone market, more than Samsung and Apple combined. [Tweet @Hult_Biz Chinese companies now account for 38 percent of the international smartphone market] Samsung has resolved to overhaul its smartphone range to stay relevant in swiftly evolving economies like China and India. There is no denying that markets such as these are now a critical part of the international business environment. If you are a technology professional or entrepreneur with a global outlook, it is worth asking if you can afford to ignore them. Working and developing in China How do you view China: a closed shop, almost impenetrable to all except the biggest global corporations, or a land of unrivaled opportunity? Its certainly true that you will face some unique challenges if you choose to seek employment in the country, but the process will also offer substantial scope for professional development. While it is often viewed as an exclusive market in terms of jobs, China is an open economy offering exciting prospects to candidates who fit the bill in terms of what employers are looking for. To start with, foreigners must meet baseline requirements including a minimum age of 24, a Bachelor degree, two years relevant full-time work experience post-graduation, Mandarin language skills, and a clean criminal record. Your application will also be viewed positively if you have a good cultural awareness of China and have made a clear commitment to the region. As Shanghai-based recruitment expert Simon Lance told CNN, the days of overseas professionals – particularly those from the West – being able to stroll into a job in China are long gone. [Tweet @Hult_Biz The days of overseas professionals being able to stroll into a job in China are long gone] The novelty of being a foreigner has worn off, said Mr. Lance, who is regional director of staffing firm Hays in China. Employers are seeking value. Demonstrating a genuine commitment to China is key. He also underlined the importance of Mandarin or local language skills, pointing out that foreigners who cant offer this attribute will struggle to compete with the millions of graduates coming out of the countrys higher education institutions. Nick Cucinella, chief executive of CareerBuilder China, recommended having a resume in both English and Mandarin, even if you are not yet fluent in the language.   He also advised candidates to take initiative and target prospective employers. Many applicants get lost in the crowd because they fail to go beyond online jobs boards and search engines. As well as being highly competitive, the Chinese job market can be complex, particularly for foreigners. Work permit conditions can vary between cities, districts, and even individual companies, so it is crucial to thoroughly research and prepare for the unique demands of every job application you make. When it comes to visas, there has recently been some positive news on this front for U.S. passport holders, with the U.S. and China announcing an agreement extending the term of tourist and business visas from one to ten years. American businesses operating in the Asian nation will welcome improvements to the visa system. According to a survey by the American Chamber of Commerce in China, 68 percent of firms felt the recruitment of foreign workers was being hindered by excessive visa processing times. Speaking at a summit of the Asia-Pacific Economic Cooperation, Barack Obama said: Ive heard from American business leaders about how valuable this step will be. And weve worked hard to achieve this outcome because it clearly serves the mutual interest of both of our countries. If you would like to find out more about Hults business programs,  download a brochure here. Kickstart your career in the commercial center of Asia by studying at Hults Shanghai business school. To find out more, take a look at our blog Hult Prize regional finals inspire in Shanghai. Download a brochure or get in touch today to find out how Hult can help you to learn about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .