Informal. a person or group that is friendly toward another because the relationship brings benefits, but harbors feelings of resentment or rivalry: Clearly, turning the competition into frenemies is good for your business.

1975-80; fr(iend) + enemy Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To frenemy's 21st Century Lexicon
Main Entry:  frenemy
Part of Speech:  n
Definition:  a person who pretends to be a friend but is actually an enemy; a rival with which one maintains friendly relations
Example:  There seems to be a frenemy relationship between Google and other search engines.
Etymology:  1953
Usage:  also adj.'s 21st Century Lexicon
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Example sentences
Now the frenemy has become a scapegoat for many of the industry's self-inflicted wounds.
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