September 28 2013
In the concluding part (Part of the series Phanish and I talk about Visible Innovation – Frugal Engineering.
1. The book talks about the luxury western firms enjoy in developing innovative products regardless of the cost. They can develop products which take up a lot of bandwidth, are fancier. In contrast Indian & Chinese firms have to develop products that have to do a lot more with a lot less public infrastructure (like networks) and at a far lower cost and price. Is the latter not far more challenging? Do people appreciate and give them due credit?
1. GE’s portable ECG machine and Siemens’ low cost X-ray machines developed in India brought down the machine cost to about $500 from $2500 or $3000. Not only that the test costs for ECG came down to $0.20 from $50. Why are these not so well known? Are the MNCs afraid of canibalisation of their premium products in the west?