React.memo example

React.memo was introduced in React 16.6 to create performance efficient function components, these components are similar to PureComponents except that they are function based. These components will re-render only when the props of the component changes and not when the parent component re-renders, thereby reducing the number of render cycles and improves the component performance.

In the below example we will create a React.memo component MyMemoComponent which will take a prop msg from the parent and display it. Remember that the memo component will only re-render when the props passed to it changes.