According to an article that Chongqing Economic Times published, the cell phone version of Beidou Navigation APP will be launched on May 1. It is expected to replace the U.S. made GPS (Global Positioning System) and meet worldwide demand by 2020. The Beidou App is reported to have a location accuracy that is within a 1 meter diameter (3.3 feet) compared to the 10 meters (33 feet) that GPS has. China Electronics Technology Group Number 24 research center in the City of Chongqing developed the Beidou Navigation System. The research center collaborates with the Chinese Academy of Sciences Chongqing Green Intelligence Technology Academy and conducts a large quantity of research and development work on satellite surveillance products. The article reported that the Beidou Navigation system has entered into stage III and that 29 satellites have been launched so far. It is expected to reach 50 billion yuan (US $7.92 billion) in production by 2020. Currently GPS has over 90 percent of the market share in the world.
Source: Chongqing Economic Times, April 8, 2018