There was a time when Japanese companies dominated the consumer electronics market, but do to a combination of cultural and economic factors, that time has passed. Companies like Sony simply moved too slowly to keep up with the ever-changing market while fast-moving Chinese companies like Xiaomi have been making billions. It’s not all doom and gloom for Japan, however, as there are a few companies that are adopting strategies similar to Xiaomi’s, the most notable of which is a startup by the name of UPQ, pronounced “up-Q”.
Japan’s consumer electronics giants are struggling. Today’s Sony, for example, bears little resemblance to the industry leader it was in the eighties and nineties. Since February 2014, it’s spun off its television, audio, and video divisions – and sold its PC segment outright. Increased foreign competition is just one reason for the sector’s rapid decline. Japan’s tech titans have also been accused of moving too slow – with red tape, bureaucracy, and an emphasis on seniority over ability hampering innovation. Across the sea in China, upstarts like Xiaomi and OnePlus are challenging the status quo by selling high-tech gadgets direct to consumers – at a more reasonable price than established firms. Could a Japanese startup with a similar approach be a nail in the coffin for the country’s embattled consumer electronics companies? If UPQ (pronounced “up-Q”) knows anything, it’s how to move fast. The Tokyo-based startup, founded in early June, unveiled 24 products (all but three are consumer electronics) in seven categories at a press conference last week. Ranging from a SIM-free smartphone and GoPro-like action camera to a 50-inch 4K display and a variety of earphones, each item went from idea to production in just two months. And it’s not just a publicity stunt – you can already order everything online.
