Over the years, China has emerged as one of the world’s fastest growing economies, competing against giants such as the US and Japan. With its rapidly growing economy, China has definitely made its mark in the global market, especially with the success of its smartphone industry. Today, more Chinese businesses are tapping into the world of technology, coming up with innovations for new smartphones, tablets, cameras, digital platforms, and so much more. Because of these Chinese innovations, China is proving to be a competitive player in the global tech industry today. In fact, many US and Japanese brands are on a lookout as Chinese brands are on the rise. To name a few of them, here are the top 5 Chinese brands dominating the tech industry today.
Located in China’s Silicon Valley, this company took the top spot as China’s most valuable brand in 2016, and became one of the top 10 most valuable brands in the world in 2017. Having a market value of $343 billion, Tencent is currently one of the biggest internet companies, and the largest mobile gaming company in the world. Apart from that, Tencent also offers value-added services such as social networks, web portals, and online mobile gaming apps. It is responsible for the globally popular app WeChat which helped the company’s expansion into smartphone services. It is currently working on expanding its products, tapping into virtual reality, music distribution, film production, and online payment platforms. In a recent clash with tech giant Apple, Tencent proved its global success when it refused to give in to Apple’s demands for a percentage of WeChat’s tipping feature.
Alibaba is owned by world-renowned Chinese businessman Jack Ma. It is currently one of the world’s leading retailers, surpassing the US company Walmart. With operations in over 200 countries, Alibaba has been generating more revenue than its competitors Amazon and eBay combined. What makes this company so unique is that it allows various types of transactions: business-to-business, business-to-consumer, and consumer-to-consumers. This is all because of the company’s web portals that allow people and businesses to buy and sell their products online. By using the web to conduct business transactions, Alibaba has definitely made it easy to do business anywhere. In June 2017, the company surpassed China’s Tencent with a market value of $360 billion. Other companies affiliated with the Alibaba Group include Alibaba.com, Taobao, Alipay, AliExpress, Alibaba Pictures, Ali Health, and Lazada.
Xiaomi, which in English translates to ‘millet’, is a privately-owned Chinese electronics company that offers gadgets such as smartphones, laptops, and action cameras. In 2014, the company became the third largest smartphone company after Samsung and Apple Inc. The company’s CEO Lei Jun has stated that Xiaomi is all about bringing revolution into the world of technology through innovation. In fact, Xiaomi recently came up with a ‘Rifle’ processor, shedding light onto the Communist Party of China’s revolutionary idiom ‘millet and rifle’ during the Nanjing Massacre and Second Sino-Japanese War. The company’s push toward revolutionizing the tech industry has indeed taken a step forward when it announced that it would be releasing its own smartphone chip.
Lenovo was named this year’s most powerful Chinese brand by BrandZ. It designs, develops, produces, and markets a wide range of products including personal computers, tablets, smartphones, smart TVs, IT software, and electronic storage devices. For 4 years, the brand has been known as the world’s largest personal computer vendor by units sold. With 70% of its revenue coming from overseas, the company has also acquired tech companies IBM and Motorola Mobility.
Haier produces household appliances such as air conditioners, refrigerators, and washing machines, but it also sells other electronics such as smartphones. Its presence in over 100 countries has allowed it to acquire American company GE and increase its market share in the US.