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I read an article, and it said
In one critical way, Samsung's Galaxy S8 may end up smoking the iPhone8 --a phone that's still months away from even being an official thing.
What does 'end up smoking' mean? Overwhelmingly win on something? I searched at http://dictionary.cambridge.org/ but couldn't find any relevant one.
The word smoking in this case is being used as an idiom meaning "to beat the competition."
See this definition of "smoke" as an idiom:
to beat someone in a contest; to outrun, outdistance, or outplay someone
So you are correct when you speculate that it means "overwhelmingly win."
And yes, as pointed out by Hot Licks in the comments, the term derives from the notion of "leaving one behind in your smoke," as in a race.
Smoke is being idiomatically here
Smoke (Farlex)
To beat someone in a contest; to outrun, outdistance, or outplay
someone. e.g. : Jill smoked Dave in the bicycle race.
To end up - means this will be the final result (the result in the end).
So the phrase is asserting that eventually the Samsung phone will outperferom or outsell the Apple phone.
