Enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area are going the extra mile in exploring high-end overseas markets, leveraging their technological and manufacturing prowess to move up the value chain.
Shenzhen-based smart kitchen appliance provider Typhur has produced the world’s most expensive air fryer priced at $499, targeting high-end consumers in the United States and Europe. The cooking device has self-cleaning functions and a wireless thermometer featuring Sub-1G technology that boasts high accuracy in monitoring cooking temperature and optimizing results.
“The kitchen-appliance market, especially smart appliances, in the US and Europe has surpassed $10 billion, with significant growth potential,” says Vita Zhao, co-founder of the company.
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“Although traditional foreign brands like Ninja and Bosch continue to dominate the market, they are gradually at a disadvantage in some technical areas, particularly with the slower pace of innovation in smart technology. In contrast, our technological, as well as research and development capabilities, allow us to quickly launch innovative products to meet market demand,” she says.
The Greater Bay Area’s strong manufacturing capacity and sound industrial chain have given Typhur “significant advantages” in cost and production efficiency, says Zhao.
According to the entrepreneur, North America currently accounts for 90 percent of the company’s overseas markets, and Europe 10 percent.
The volume of Typhur’s products skyrocketed 4,388 percent last year, compared with 2023, with turnover having soared 695 percent year-on-year. The staggering growth was partly attributed to an increase in the number of products entering the market last year.
Longsys — a Shenzhen-based semiconductor memory enterprise — is also focusing on high-end overseas markets with artificial intelligence.
“Driven by ChatGPT and DeepSeek, data centers and AI servers have grown rapidly, fueling the demand for high bandwidth memory and DDR5, a type of memory product,” says Jason Yan, vice-president of Longsys.
“This is a good opportunity for domestic storage companies to march into the high value-added field,” he says.
However, he warns that domestic companies still face problems like narrowing the high-end technological gap, protecting intellectual property, and striking a balance between pricing and quality.
Elevating the value of the region’s products in global markets can also be seen in the smartphone market with the Greater Bay Area’s well-known brands such as Oppo, Vivo and Honor.
Oppo recently launched its latest smartphone models targeting high-end consumers worldwide with the latest technologies.
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Guo Tianxiang, a senior analyst of market research company IDC China, says Chinese mainland manufacturers have been concentrating on low-end markets abroad, based on pricing and cost-effectiveness.
But, with their technological capabilities improving, they are upgrading their brands and penetrating high-end international markets with more premium products.
According to the 2024 Global Trust Index of Chinese Brands report by market research firm Ipsos, trust in Chinese brands overseas has risen 14 percentage points since 2021 based on a survey of 16,000 consumers in 20 markets.
“The trust in developed markets, represented by the United Kingdom and the United States in Chinese brands, has surged significantly, and the proportion of distrust has further declined,” says Shi Yue, editor-in-chief of the report.
“In emerging markets, trust in Chinese brands has increased significantly in all markets, except Thailand, especially in countries like Nigeria, the United Arab Emirates and Mexico,” Shi says.
