Stepping into the 20th century, the world has faced gigantic technological transformation. From business to education and entertainment, every industry is undergoing digital transformation.
This huge global change is the result of Chinese inventions. From mobile phones to eCommerce stores, Chinese companies are leading the technology world, providing individuals and businesses with the latest technological innovations and seamless experience.
Most of the American tech giants are paying attention to the software revolution underway in China. The number of Chinese software companies almost doubled between 2009 and 2014.
Modern Chinese software firms are big and getting bigger as China produces legions of new software engineers each year—more than 100,000 annually by some estimates.
Five famous Chinese companies leading the tech world and facing the future of technology include are the following:
Alibaba
Alibaba is a renowned Chinese tech giant. It is known as the world’s largest e-commerce company.
This Chinese platform has reshaped the retail industry providing B2C, C2C, and B2B platforms to serve Chinese GDP.
Huawei
In the last few years, Huawei considered one of the leading mobile makers’ companies in Asia before Huawei, CISCO was considered because of its hardware in Asian countries.
Huawei has branched out in recent years its smartphone market share is on the rise in a number of markets outside of China.
The company is also seeing its boats rise in other waters as it’s working on a narrowband IoT deployment in Australia, making 1.0 Gbps 5G network that will be deployed in 2017 in Singapore.
It is also partnering with Google to bring Daydream VR to Android, Huawei has emerged as a pre-eminent hardware maker in a world where everyone wants to be a software and services provider.
ByteDance
ByteDance is the tech company behind the famous app TikTok that has accumulated more than half a billion active users since its release. According to Apple, it was the 16th most downloaded iPhone app of 2018.
The video-sharing platform allows users to record and edit 15-second long clips and upload them to the app.
With an emphasis on creative and entertaining videos, ByteDance secured $3bn (£2.36bn) of funding in October 2018, bringing its valuation to $75bn (£59bn) and making the most valuable start-up ever – beating the likes of Uber and Airbnb.
Sensetime
This last tech company is not one of China’s biggest, but given a few years, it may well change that. It was founded in 2014, SenseTime is one of the most valuable AI-based start-ups in the world, with a worth of more than $7.7 billion.
Xiaomi
Xiaomi is referred to as the Apple of China It is a handset and smartphone manufacturer with a short sales history and oodles of potential.
In late 2014, Xiaomi was valued above $45 billion, making it the most valuable private technology firm in the world. As an internet company, it went public on the Hong Kong exchange in mid-2018.
It had a rough start as its shares fell 6% on its opening day. But it subsequently recovered, and now has a market cap of $56.4 billion.
Also Read: Apple Inc. – A Trillion Dollar Company