Does Genetec really compete against 'state sponsored' manufacturers? I doubt it. Genetec sells to very high end users who rarely, if ever, are going to buy $200 NVRs since their needs are so much greater. So why focus on that?
Does Genetec really compete against 'state sponsored' manufacturers?
No, and they want to keep it that way.
Genetec doesn't really care about Hikvision cameras, but IMO they *do* care about Hikvision trying to get into large municipal projects with their software and services. Hikvision desperately wants more of these kind of projects, where they can get themselves embedded with the city, not just for the initial deployment, but for all the ongoing move/add/change stuff over the years.
Municipalities and large-scale systems have been one of Genetec's prime areas of focus over the last few years. I think they fear Hikvision getting a toe-hold with cheap cameras and then cheap recorders...then software...then services. If that were to happen it would severely impact Genetic's business and valuation.
Genetec striking out at Hikvision is a strategic early defensive move.
Anytime a small, medium, large prospect mentions hik, I open this up on my ipad.
"Build Trust" LOL.
State sponsored hacking is ingenius and I always said it. They can't touch us in a real war. Be smart about it and buy all our debt, do espionage, hack, buy property, buy everything. Slowly suffocate a country is the best strategy for them.
Lol, no, I just happened to see that video today after the Hikvision post was released.
And the Hikvision ad is clearly puffery (just like when any other company talks about trust generically), it's not like they made a specifically clearly factually assessable claim like "you can trust that the Chinese government is not our controlling shareholder", etc.
Hik is trying their hardest as the web is closing around the Chinese manufacturers. Nearly every week we see an announcement about a government dropping Chinese made communication equipment for their emergency services for example and we have all heard about Huawei being excluded from 5G roll out tenders. The curtain is about to close for Hik as well for any state owned application outside of the US and rightly so imo.
Sure they want to sell to high end customers but they are falling victim here of their own strategy of lowballing and their SIs are using the cheapest turret fixed lens cameras everywhere. Shopping Centers receiving 300 fixed lens cameras and 16 NVRs crammed in a rack, that is the reality.
Unless Hik comes up with something that is actually believable, shore up on their cyber security issues and start opening up on who they really are they are doomed within the high end market.