Smartphone industry consolidation has been accelerating recent quarters. Bigger players are taking more ground from small players. Meitu, a microvendor from China, however has quietly become a fastest-growing smartphone player in Q3 2017 with healthy ASP increase. Meitu’s success is definitely an encouraging story for microvendors around the world. What are the key takeaways from Meitu’s takeoff under the context of industry consolidation? What risks should other microvendors also be aware of?