China has grown into the world’s manufacturing hub thanks to the successful efforts of original equipment manufacturers, or OEMs, producing goods in China for international brands. However, there is now a shift taking place. The OEM business can be very competitive, and the prices are dropping. China is now using the technology they used to use for Western brands, to produce their own brands. This way the production, distribution, design, innovation, communication and marketing is no longer spread out over different countries, but it all takes place in China.
And it seems to be working. Chinese (global) brands, mostly in the electronics industry, are definitely taking over the world and according to Daphne it will not be limited to electronics. To be continued…
For those interested, but who have no clue… Here is a short introduction into OEM and ODM’s. Now listen close, because they are quite similar.
An OEM stands for Original equipment manufacturer. This company is responsible for designing and building a product according to its own specifications, and then selling the product to another company or firm, which is responsible for its distribution.
An ODM is an Original design manufacturer is responsible for designing and building a product as per another company’s specifications
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