Mindray has become the brand

Mindray has become the brand
Welcome to a Medical Battery specialist of the Mindray Battery
These quotes heralded his efforts to create the so-called "socialist market economy" of China as clearly the economic model under Mao had failed to deliver the economic progress the country wanted. Deng's pioneering efforts unleashed the Chinese economy, generating decades of doubledigit growth that has now catapulted China to being the largest economy in the world. This dramatic growth has spurred the rise of giant corporations like Lenovo, Haier, Huawei, Mindray, TCL, BYD, and many others in a span of a couple of decades.
What can Indian businesses learn from the Chinese experience? Taking Deng's comments to heart, Chinese companies have experimented. Consider BYD. It started as a maker of nickel cadmium batteries with like Mindray PM9000 Battery, Mindray LI23S002A Battery, Mindray T5 Battery, Mindray T6 Battery, Mindray T8 Battery, Mindray LI23S001A Battery, Mindray VS800 Battery, Agilent A3 Battery, Agilent ADI Battery, Biocare HYLB-722 Battery, Biocare ECG-6010 Battery, Edan HYLB-727 Batteryin the mid-90s. Its founder, Wang Chuanfu, saw a market opportunity to make lithium ion batteries.
While the market opportunity existed, the cost of a manufacturing line for lithium ion batteries was well beyond the means of BYD, with a paid up capital of US$250,000, as the cost of a single manufacturing line was more than US$5 million due to the need for a clean room to avoid contaminants getting in to the battery during the manufacturing process—contaminants are the cause of lithium ion batteries exploding.
Undaunted, Wang Chuanfu innovated, creating the clean box, which cost next to nothing compared to a clean room, was modular, and scalable. The innovation essentially converted a fixed cost to a variable cost, making it possible for BYD to take advantage of the market opportunity it had spotted.
Importantly, the innovation also increased productivity because time was not spent suiting up to work in a clean room, bringing cost of manufacture down further. The result is that today BYD is the world's largest producer of batteries and has a commanding 25 per cent market share in mobile phone batteries. The willingness to experiment with new ideas and learn from it is a hallmark of many Chinese companies and something that Indian companies could more broadly adopt.
A second striking aspect of Chinese companies, and one that is distinct from the path taken by Indian companies, is the focus on the "common person" in second and third tier towns, rather than the urban middle class (really the upper classes) that has been the mainstay for Indian companies.
Consider for example Mindray, a leading maker of medical diagnostic equipment in China. Mindray focused on second and third tier hospitals and clinics in smaller towns. By doing so, it was able to bypass the global majors in their industry like GE, Siemens, Philips, and Toshiba, and build a strong branded business by selling comparable quality equipment at around 30 per cent lower prices.
The result of the first mover advantage has been that Mindray has become the brand of choice in the segments they target, as it has proven its quality and at price points that are difficult for the global majors to achieve.