Many Chinese companies are beginning to launch high-end products.
It appears that the long-held dominance of Apple and Samsung over the high-end devices market is becoming increasingly under threat. According to a recent CNBC report, Chinese smartphone makers may just have begun making moves to ensure that the luxurious devices market is no longer dominated by the duo.
Per the report, Chinese smartphone makers made their intentions known via their displays during the Mobile World Congress in Barcelona, last week. And considering some of the recent product launches of these companies, Apple and Samsung may now have serious competition.
Chinese Phone Makers Come for Apple and Samsung
In what seems more like a competitive strategy than a profit-oriented decision, many Chinese companies are beginning to launch high-end products. For example, the world’s fourth-largest smartphone maker Oppo launched a foldable smartphone it calls the Find N2 Flip just last month. As of publication, the device sells for around $1,000 per unit.
Similarly, Xiaomi also launched two new products – Xiaomi 13 and Xiaomi 13 Pro. Each of these is also priced above $1,000. Meanwhile, Honor, which is a spin-off from Chinese telecommunications giant Huawei, also recently launched its $1,690 foldable Magic Vs smartphone.
So, from all indications, Chinese companies might gradually be deviating from the exact strategy that bolstered their quick rise to prominence. That was offering lower-cost alternative devices to popular ones.
Meanwhile, it might also be worth mentioning that this push for high-end products couldn’t have come at a better time. It comes at a time that Chinese firms are keen on expanding their global reach. Especially seeing as the local economy has now re-opened following the country’s decision to finally ease Covid rules last December.
So, without a doubt, China looks to be well on course to boost its global strategy. And with the ease of lockdown, Chinese firms may be ready to take up a significant amount of market share. This is as it concerns the high-end devices market.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this.
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