IFA CEO: Taiwan tech to leverage core silicon strengths to counter China's momentum

Sluggish demand in the European consumer electronics and home appliance markets in recent years, combined with overcapacity built during the pandemic, has dealt European manufacturers a double blow of falling demand and excess supply. Meanwhile, Chinese competitors leveraging rapid product development cycles and aggressive pricing are aggressively seizing market share. This has put severe operational pressure on European appliance makers such as BSH, which produces Bosch and Siemens appliances, and Miele, forcing some into plant closures.