What the central banks are doing has never worked and they keep on trying – you just hit that nail a little bit harder each time because it isn’t working. Pictured: Nils Erik Mattisson, Martin Lööf, Yasin Ak bik, and me at our factory in Malmö, Sweden.On Saturday, the 2016 edition of the Fed’s Jackson Hole two-day symposium came to an end, and as many expected, following long bouts of rhetoric, circular statements and hollow bluster, much of it contradictory, both the participants and markets remain as confused as ever. Today, all Gen 3 sensors are assembled and tested just a short drive from our office in central Malmö. To top it off, the cost of labour has increased dramatically in China, minimizing its importance to hardware margins.Īt a board meeting several months after we announced the move, our chairman Tommi Uhari agreed that moving production from China to Sweden was probably the right thing to do. The travel restrictions implemented during the pandemic also made it virtually impossible to visit. We’re now faced with high import duties when shipping to the US. However, over the last few years, several other factors have changed. Did you know that Shenzhen is the world’s epicenter of electronics manufacturing? The hustle and bustle, the drive, and the know-how concentrated in this area are simply unparalleled. We lived in Shenzhen for months building and iterating on the first prototypes that would become our core product. That’s where my co-founders, Nils, Fredrik, Martin and I, met in person for the first time. Since the early days of Minut, China has held a special place in our hearts. Our Board of Directors was skeptical at best – yet we went through with the move. Here’s the story of how we decided to move manufacturing from China to Sweden.
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