HARDWARE ALONE DOES NOT MAKE A PHONE BUT NEW SAMSUNG GALAXY S5 LEAVES APPLE IPHONE 5S HARDWARE IN THE DUST $AAPL
The increasing complexity of smartphone hardware may be generating investing opportunities. But investors need to have a clear idea of what exactly counts as hardware and who is doing it well, so in a two-part series, I will look at these to aspects, and in Part II look at the companies that may be places for investors to put their money. Apple has demonstrated over each successive generation of its iPhone that hardware alone does not make a great smartphone. The software and ecosystem are equally critical. Moreover, it is the elegant integration of the three that has made