The last two aren't surprising considering Foxconn's parent company, Hon Hai, is an investor of Sharp as well as LeTV.

ENGADGET

New competition is coming in from sites backed by Web giants like Baidu, Sohu and Tencent, along with independents such as LeTV and peer-to-peer download sites like Xunlei and PPLive.

FORBES: Youku's Now The King Of China Web Video: Can It Make Money?

But most importantly, LeTV now streams over 2, 000 TV apps as well as some 90, 000 TV episodes and 5, 000 movies for free (LeTV claims to own the rights to 95 percent of the video content).

ENGADGET

Another highlight is that in addition to the existing Flyme Cloud backup and phone tracking service, Meizu's also finally launching a much-needed free video and lossless music cloud platform, and this time it's done in collaboration with legit content providers like Sina, Tencent and LeTV.

ENGADGET: Meizu MX2 packs 1.6GHz quad-core chip, 4.4-inch display and Jelly Bean, due mid-December