The best and worst of the Samsung fast-follower model can be seen in both the soaring success and relative decline of late in its biggest business: smartphones. Samsung Electronics plunged full force into the market after the debut of the iPhone in 2007. And after a decision in 2009 to use Google’s low-cost Android operating system across its product line—as a way of quickly and cheaply countering Apple’s proprietary operating system, iOS—Samsung raced to the top of the heap in 2011 with its Galaxy S II phone. Its profits then skyrocketed, especially when its large-size screens proved popular and Apple was slow to respond. Then last year Apple rolled out its larger-screen iPhone 6 devices, and Samsung’s growth hit a wall. Samsung Electronics recently previewed second-quarter financial results, suggesting that profits will be $6.1 billion, down 4% from the year-earlier period and the seventh consecutive quarterly profit decline. All things—including screen size—being equal, consumers appear willing to pay a premium for the innovation coming out of Apple.