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Bezos' big blunder: Amazon's Alexa is getting clobbered

Baidu's upcoming Raven R smart speaker has a light-up digital face on an articulated arm.
Baidu's upcoming Raven R smart speaker. Image: Baidu

Last week, all Amazon had to do was buy a pharmacy startup to wipe $15 billion in value off competing drug chains — but in the booming market for smart assistants, it's Amazon that's been getting its clock cleaned.

What's going on: In the first quarter of 2016, Amazon Echo held 80% of the global smart assistant market, according to Canalys. Chinese companies were so far behind that they registered zero. But just a year later, Amazon has collapsed to a 28% market share, behind Google Home's 36% and ahead of China's Alibaba and Xiaomi with a combined 19%.