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Foscam: The Focused Entrepreneur - PART 1
By Editorial Department 2014-11-19
“I always forget my birthday. It’s only when my colleagues are celebrating for me that I realize it’s my birthday again.” Wang may forget his birthday, but he certainly recalls the day he set up Foscam on December 26, 2007, at the age of 30.
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Coming from a semiconductor background, the avid opportunist was frequently in touch with electronics and power-supply manufacturers when he served as sales person for a semiconductor company. He came to realize that the finished product was the business he wanted to devote to.
In its early stages Foscam churned out series of UFO-styled IP cameras for small-scale projects in Europe. But like all rookies on a batting field, it was not always smooth sailing. One of the issues it had to encounter was wireless integration.
“Foscam started out specializing in 2.4G wireless technology. It was only when a client in Europe lamented ‘no Wi-Fi, no market!’ that I decided to reconsider our priorities,” Wang said. “We eventually went into developing Wi-Fi-based cameras. It was tough at first because we encountered many stability issues with our Wi-Fi camera.”
Thanks to the client and the experience, Foscam now dominates the Wi-Fi camera market in the United States. Wang further revealed his plan to launch Wi-Fi 802.11ac version cameras.
“To me, designing a Wi-Fi 802.11b/g/n- or Wi-Fi 802.11ac-version camera isn’t that difficult. The right question would be what the market wants.” According to Wang, 11ac is in its initial stage and as of yet is not in real demand. But when the time comes, Wang wants the Foscam team to be ready.
Solutions, rather than products
On revealing the two popular cameras in the Foscam lineup, Wang explained: “Now smart home is our main market, and it cannot be overlooked. For example, a babycam should be different from the general home camera. We did a survey and observed the demands in detail.”
According to Wang, the network camera market is currently transforming the spec competition to application differentiation. Since key components such as SOCs or ISPs have been determining the performance on most cameras, “Camera makers like us should focus on mastering what the market wants and then turn it into a real ‘solution.’”
Consumers today carry the “Olympic torch of experience,” given the need to put customers at the heart of marketing activity. In light of that, Wang prefers using ‘solution’ to describe what Foscam offers, rather than ‘product.’
User experience is of paramount importance for competitive advantage in the smart home business. Integrating software and hardware development throughout its life cycle is a basis for successful market development, thereby achieving user satisfaction and in turn successful businesses.
“Ensuring the customer experience is great across every business function,” Wang said. Foscam attends no fewer than a dozen trade shows each year to study and exchange views with their customers and distributors.
To date, Foscam has over 20 types in its entire lineup and has sold products to more than 60 countries. “With a multitude of products and international branch offices, we carry out our strategy of localization business around the world.”
ShenZhen Foscam Intelligent Technology Co., Ltd. is a leading professional high-tech company providing IP video product and solutions in China.
Founded in 2007 and headquartered in Shenzhen, China with operations spanning across the globe. Foscam has established a system of business channels in Germany, the United States, Britain, Italy, Singapore, India, France and Canada, with more than 30 partner countries and regions. To date, their products have been exported to over 60 countries.
Foscam: The Focused Entrepreneur – Part 2 of 3
Foscam: The Focused Entrepreneur – Part 3 of 3