Earlier quoted context omitted.
Rather than taking their lead and improving the product, they just sat there with the exact same product for like 10+ years. It was outrageous. I think that this is actually the only viable strategy for a hardware product company in the current world. As soon as your product is successful, it will be cloned by dozens of Chinese companies and dumped on the market everywhere. Any update you make from there on out will…
I wonder why nobody has tried to beat the Chinese companies at their own game. The whole schtick is: take a product that people like, vertically integrate and drive down costs. This is like the purest form of capitalism.
It's not that rare that Chinese products are sold below cumulative costs of Western equivalent products and services, let alone prices. Chinese(The craziest example of these is Chinese PCB prototyping services: as cheap as $2 per 5 pieces with $5 extra for complete assembly and $15 shipping. $5 each would be darn cheap in the rest of the world, even $50 each for the board and $150 per assembly work would not be so absurd. There's just no competing that.