IFA at 100: A Strategic Stage for Chinese Firms
By Yuan Qingpan and Fu Yifang | chinadaily.com.cn | Updated: 2024-09-15 21:40
Paul Stribos from the Netherlands remarked on the rising prominence of Chinese companies, expressing admiration for Honor's foldable smartphone, which he praised for its larger screen and lighter frame—surpassing many Western competitors. Reflecting on the rapid ascent of Chinese firms, he attributed their success to China's robust educational system and vibrant, innovation-driven market. In his view, increased participation by Chinese enterprises is beneficial, as a competitive environment fosters the development of superior products for consumers worldwide.
Another local German couple was equally impressed by Laifen's electric toothbrush, captivated by its ultra-wide 60° oscillations and high-frequency vibrations. Although initially unfamiliar with the brand, they were eager to purchase it on the spot. This enthusiastic response highlights a key challenge for Chinese companies: breaking through trust barriers that have long favored Western brands. Yet, as IFA showed, these barriers are steadily diminishing.
For Chinese companies, success hinges not only on product quality—where many already excel—but also on brand recognition and consumer trust. Building that trust will take time, but it's critical to ensure foreign consumers know they have compelling alternatives. Many Chinese brands are already positioning themselves in niche markets, such as XGIMI with its outdoor projectors tailored to camping enthusiasts. By addressing specific consumer needs, these brands are carving out valuable market share abroad.
By working together to enlarge the market and attract a larger consumer base, these companies are setting a precedent for long-term success. Instead of engaging in relentless internal competition, they highlight the value of expanding market size and reaching new customers as a more sustainable and enduring business strategy.
In a world where innovation knows no borders, Chinese firms are increasingly offering something different—targeted, relevant, and innovative. As these companies refine their strategies, they are no longer merely participants in the global market—they are helping to shape its future.
Zhang Xinyi, Yang Jiarun and Deng Haoyue contributed to this story.
fuyifang@chinadaily.com.cn