Hi everyone,
I finally received a reply from Malwarebytes regarding the SMSThief detection in the Alcatel Smart Suite app. It appears the detection is a false positive, and the app has been whitelisted for the moment. However, they are reinvestigating the app due to the AVG detection, and it could very quickly find it's way back on to the blacklist if they find it exhibiting any malicious behavior.
I have been in IT for sometime, and it is very common for software developers to "borrow" a useful behavior from malware, and code it into a legitimate application. My educated guess is; the Smart Suite mobile app uses a method very similar in nature to the actual SMSThief, malware to capture SMS messages on your phone and then pass them on to the Alcatel Smart Suite PC app for the purpose of backing up the contents of your phone. Malwarebytes' heuristics saw this behavior in the raw code of the .apk and flagged the app as malicious. It is a legitimate application, just with suspicious code embedded in it. So, unless you use the Smart Suite mobile app in conjunction with the Smart Suite PC app for phone backup and file transfer, there is absolutely no need for this app on your phone.
If your are concerned about potential privacy issues, my recommendation is to completely disable the app and delete the app's data. In Android 6.x, Go to Settings > Apps > Smart Suite > Select Force Stop > Select Ok > Select Storage > Select Clear Cache > Select Clear Data > Select the Arrow next to Storage to return to the app's detail page > Select Disable > Select Disable App > Reboot your phone. This will completely disable the app on your phone. For earlier versions of Android, please refer to your manufacturer's website or phone manual for instructions on disabling the application and deleting it's data.
Thanks to a_Mbam of Malwarebytes and Elvidster for the additional info on this issue. Take care everyone!