Don't know if it's really conquering, but here's a trend that I've seen: In the past, American products were regarded as the best and Made in USA meant quality. Next were Japanese products and consumer electronics. Starting 5-10 years ago, I began to see the well-regarded brands like Sony and Toshiba become more of a boutique brand (overpriced compared to what it offered) as they focused more on style than functional…
But I have to admit there are also a lot of useless copy-cat products on the market (not only in Asia). Those 'brands' will not survive because they won't offer an improvement.