I think it's part of a broader trend of Chinese brands competing on equal terms.

Xiaomi and Huawei make phones that are quite comparable in quality to any of the established western and Korean brands; Xiaomi also apply their brand to a lot of very good electronic stuff that's very good value - electric scooters, air purifiers, smart home equipment etc. Rigol and Aneng make consistently good test equipment at a fraction of the price of western equivalents. Japanese brands used to dominate the radio control hobby industry, but they have been almost completely displaced by Chinese brands.