Kiva Systems was a company that built a mobile robot for logistics operations, mainly for use in warehouses. It was a basically a small platform on wheels, and proved popular throughout the industry.
But then it got bought out by Amazon, which initially said it would still sell it to the rest of the logistics industry but actually didn’t. Instead it rebranded Kiva as Amazon Robotics and turned it into a business unit of its own.
The online retail giant now has one of the largest number of robots in operation of any company in the world.
China’s enthusiasm for new technology, combined with its paranoia about being left behind in a globally intensifying high-tech competition, sometimes leads it to create small bubbles in its economy which may or may not dissipate in the disciplined manner in which the markets they encompass may have emerged in the first place.