The more the merrier - competition is great and it helps products advance. But if it's a copycat, then I have no respect for the inventor.
Problem is, it takes years to bring a good solid product to market. But they are going to have a difficult time competing because of apple pay - I've already returned my iPhone 6 because it was too large for my daily use ( i really wanted it) so I am depending on the I watch to deliver apple pay to my iPhone 5s and I suspect many people have the same idea.
PS.. Apple, if you are listening; Please develop put the bells and whistles into a 5s size phone. Runners, mountain bikers, and many outdoor enthusiasts are opting out of the 6 product line due to it's size.
Actually, I know many people who brought back the 6 line - we love the sixes, but we would love to have a 6S with an m8. The camera is not a big deal, but the m8 appeals to outdoor enthusiasts who enjoy looking at their data at the end of the day and we don't know why.. It's just interesting.