Branded Checkout WeaknessAnalyst observes branded checkout, the company's most profitable business, is showing signs of weakening and may be difficult to reverse, which could pressure margins.
Component Supplier Competition And Demand PressureAnalyst notes intensified competition from lower-cost Chinese chipset and radio-frequency suppliers and MediaTek's aggressive pricing, which is pressuring established component makers' pricing power and market share.
Social-platform Payments CompetitionAnalyst warns that an 'everything app' embedding messaging, banking and commerce could make payments native to the social feed, reducing use of external checkout and peer-to-peer wallets.