China is one of the most powerful economies of the world. It is also the country with the highest population which indicates high Human Resource in the country. China has been able to successfully manage its human resource. Effective and efficient growth is the model that the country follows. China has a very well developed industrial sector specially the Technological sector. Chinese companies have started to dominate the Technological and Consumer Electronics sector of world. For example Lenovo, a Chinese firm, is currently world's largest producer of Computers and has the maximum market share. Similarly in case of Smartphone, which according to analysts is one of the fastest growing markets, Chinese companies have continued to show their dominace as 3 of the Top 5 smartphone companies are from China ( Huawie, Lenovo and Xiaomi ) .
Chinese companies have been able to achieve this tremendous success because of many reasons and one of the most important reason is availability of cheap labour and raw components. This reduces the overall cost of production. This also enables the firms to sell their products at a cheaper price than the competition without comprising in the quality of the products. A recent example can be taken of Xiaomi, a Chinese Consumer Electronics firm, which made its debut in the Indian market two weeks ago with its smartphone MI 3 which offers high end specification at a very low cost without comprising in the quality. This resulted in tremendous media coverage and high buzz in the market. The smartphone attracted buyers just like nectar attracts bees. The company sold out its first batch of smartphones in 40 minutes and the second batch was sold out in just 5 seconds. This has also changed the image of Chinese smartphones in India as the people in India follow a myth that Chinese brands are inferior to the competition. Xiaomi has also raised the bar for Indian brands like Micromax and Lava.
It will be interesting to see what all new innovations can these Chinese companies bring for the benefit of their customers. Also there will always be a question in the minds of global customers that will these companies be consistent in delivering the same satisfaction and value for money in the future. All these things are in hands of futrue but what we all can currently see is ' Made in China ' everywhere.