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Cost innovation' sounds like an oxymoron. Most of ones associate innovation with greater functionality and sophistication. Mainland Chinese companies, however, are turning conventional business models on their heads and these 'dragons' are making inroads into markets in ways that would have been unimaginable just a few years ago. The author says Chinese companies are tapping niche markets and customising products, but instead of looking at premium pricing they're choosing to go mass market with 'everyday low prices on steroids.' Yet, they're still offering advanced technology and are not skimping on research and development.
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