The latest version of the reality version of the "Commercial Battle Play" featuring Le Tour as the first protagonist has been made.
On the evening of January 4, Cooler announced that the company had been informed by Leview Mobile HK Limited that Leview Mobile HK Limited had sold approximately 897 million shares of the company to Vriage Ventures, representing 17.83% of the company's issued share capital. The cash consideration is HK$0.9 per share at a total consideration of approximately HK$808 million (approximately RMB 670 million).
After the transaction was completed, the shares held by Leview Mobile HK Limited were reduced from approximately 1.449 billion shares to approximately 551 million shares. The shareholding ratio of Leview Mobile HK Limited also decreased from 28.78% to 10.95%. This also means that LeTV is no longer the single largest shareholder of Coolpad.
According to public information, LeTV once held a 17.0% stake in Cool at a consideration of 2.18 billion yuan in June 2015, and then added HK$1.047 billion (approximately 900 million yuan) to increase its stake in Coolpad to 28.90%, becoming the largest shareholder. But now, LeJoy is seen as dealing with the financial crisis and has to cash out at a loss.
Regarding the root cause of the crisis in LeTV, Jia Yueting had previously responded to the "Beijing Securities Regulatory Bureau ordered Jia Yueting to go back to the country to fulfill responsibility notice" when he said, "Letvision system company at the same time layout industry too much, the company's management capabilities have not kept up with, leading the company to operate The situation deteriorated.†He felt embarrassed, blamed and apologized for the subsequent series of negative impacts and losses. He also admitted that in the face of asset freezes and business pauses, more than 10,000 employees were forced to disband. The only thing the company can do is to repay assets by selling assets.
Debt, Jia Yueting is still trying to figure it out, but LeTV, which he has built in one hand, is seen by the outside world as a quality asset of LeTV and has to be the victim of the collapse of the company's brand system. This sacrifice even includes the completion of competitors.
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Liu Rui (a pseudonym) is one of the 10,000 employees who have left LeTV, and is also a new mid-level executive who was formerly LeTV.
He tried to stick to it, but the development of the company was not "sticking" to it. "The size of the business team matches the size of the product market. There is no need for such a large number of people for the decline in TV sales." Liu Rui recalled that last year, as the crisis erupted, there was no layoff in the company. A large number of employees chose to take the initiative. Leave, "Nothing to do."
In spite of this, some LeTV employees, including him, do not believe that the LeTV business itself is a problem. Liu Rui thinks that if it is not because of the overall strategic problems of LeTV, especially the mobile phone and automotive business encounter the development of seedlings, LeTV's model has some breakthrough and innovation.
The real-time user data map of the TV service can be seen at LeTV headquarters. In this picture, every LeTV user who starts up is a small star that can be lit. It can be seen how many users turn on the phone and what they are looking at. Specifically, which actor's videos to see. Through data analysis, LeTV will "tag" these users.
If a user watches a children's program during working hours on working days, it must be a family with children, and there is an elderly person or a nanny at home to care for children. If you watch a soap opera on a workday, then this user is likely to be a housewife, and not too old. If television is normally turned off, it will be turned off after work, and in all likelihood, it will be office workers. If you watch sports on the job, he must be a sports fan...
Similar to this "label", music as a total of 2000. The continuous refinement of the label allows LeTV to have the capital of its operating users. Based on this, it can provide advertisers with accurate advertising, but there is still a huge gap between the goals of LeTV. To know that Netflix, often referred to as the US version of "LeTV," owns a user tag of 100,000, and advertising push has a high degree of accuracy. ?
The ability to control user data is precisely where Liu Rui thinks LeTV is worthy of recognition. "If the video content platform is in the hands of other companies, it is difficult to achieve true user operations."
For this reason, Liu Rui feels that she should not be separated from LeTV's entire business system.
"The success of LeTV depends on LeSco's ecological success. It cannot be said that it has been dragged down by the entire system because of its outstanding individual business. Without the support of business units such as LeTV, sports, and cloud platforms, LeTV will find it difficult to achieve rapid expansion." Rui said.
It can be felt that, even if LeTV has left, even if the outside world continues to criticize LeTV, Liu Rui still has a good opinion of the “old clubâ€.
Liu Rui experienced everything from rapid ramp-up to peaking in 2015 to “falling down†in LeTV. He continued to emphasize that LeTV’s “falling down†is more of a negative impact on the market as a result of the negative influence of LeTV. This run from the bank, the upstream and downstream industry chain, after-sales, public opinion and other aspects, but LeTV in the concept and mode of the industry played a promoting role, Liu Rui think LeTV still has advantages.
“The LeTV model is market-proven, and it can be profitable in the future. It is just a problem in the development process. Even if Sun Hongbin is in charge of LeTV, he is very optimistic about the TV business,†said Liu Rui.
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But the market is extremely cruel.
Informed sources told the interface news reporter that LeTV’s current market share has fallen by two-thirds from the same period last year. According to data from Zhong Yikang, the overall sales of Internet TV brand brands from January to July 2017 decreased by 6.9% year-on-year, and online sales of LeTV Super TV decreased by 55.5% year-on-year, cooling down by 47.1%.
Ovid Cloud Network (AVC) online monitoring data shows that in the second quarter of this year, in the 55-inch TV best-selling model rankings, Le Super 4 X can still occupy 4% of sales, but by the 35th week, TV single product There is no LeTV in the top ten online sales. During the 11th, Xiaomi TV ranked first in the online sales list, followed by Sharp and Hisense. LeTV did not enter the top ten. At one time, LeTV topped the list for several months and brought a lot of pressure to many traditional TV brands.
According to the data disclosed by LeTV 2016 semi-annual report, as of June 30, 2016, the cumulative sales of LeTV Super TV for three years reached 7 million units. According to the interface news reporter, usually 1 million units are able to “stand on foot†in the industry, and sales of 3 million units have certain industry influence, while more than 5 million units means that they have the ability to impact the top three markets. ?
However, from the end of 2016, the capital chain that was continuously exposed was negative and inevitably spread to the television business.
“The run of the upstream and downstream supply chains is very deadly. The suppliers of raw materials, after-sales partners, logistics partners, etc., are squeezing the payment cycle substantially, or demanding payment and delivery first.†Liu Rui said that before LeTV payment There has been no case of dishonesty. When TV production reached 5 million units, there was a normal six-month period. However, the loss of the right to discourse has resulted in the loss of negotiating power.
Reflected at the terminal level, users who originally wanted to purchase LeTV were turning to other brands. They feared that the turmoil in LeTV would affect normal product production and after-sales services.
An insider of JD.com, who is familiar with Letv marketing, said that LeTV’s search volume in JD is only one-tenth of the peak during the LeTV crisis. The user’s mistrust of the brand has led to distrust of the product.
"A lot of channels have already given up and cooperated with LeTV, but the Jingdong platform's LeTV will also be shipped to the warehouse. Some promotional nodes will take the initiative to push. Of course, the intensity can not be compared with the past." The above person thinks that now is for LeTV. It is already "saving" them if they are not blocked.
The cooperation between Gome and LeTV has basically stopped. Zhang Tao, general manager of Gome Color TV Division, told the interface news reporter that through LeTV, many consumers understand that one thing is that television is television, and the Internet cannot change the characteristics of television. The content is not more valuable than hardware. ?
Even the most important foundry partners of LeTV, Foxconn and Compal Computer, have also been evacuated from LeTV. As a subsidiary of LeTV, LeTV’s new core business is smart TV. After Sun Hongbin was admitted to LeTV, LeTV’s new name was renamed the new LeTV Sense Home, aiming to eliminate the negative brand effect in the past.
Affected by LeTV, the market share of the entire Internet TV has dropped significantly, which also brought fatal blows to the Internet TV brands such as storms and micro-whales.
Feng Xin, founder, chairman and CEO of Storm Group, once attended an event sponsored by titanium media, and said that in the 12 years since he started business, financing in 2017 has been "the most difficult and longest."
The outside world often compares the storm to “little musicâ€. Feng Xin himself is often compared with Jia Yueting. This has brought a lot of trouble to the storm. Feng Xin admits that upstream and downstream partners, including supply chains and channels, have clearly questioned the storm pattern. Storms need to be constantly explained and emphasized how they differ from LeTV. ?
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Everything often has two sides. When the storm suffers from mode criticism, it also enjoys the market share dividend that LeTV gave away. ?
According to Feng Xin, the sales of Storm TV in 2017 increased by 80% compared with 2016. During the double 11 this year, Xiaomi’s TV sales ranked first, sold nearly 200,000 units, storms were more than 100,000 units, and LeTV had only 560,000 units.
It is worth noting that although the Storm is synonymous with LeTV as an Internet TV brand, most TVs are sold through offline channels.
According to data provided by the storm, in the first quarter of 2017, the sales of Storm TV were 235,000 units, and in the second quarter, it was almost half of the 120,000 units. In the first half of 2017, sales under the storm TV line accounted for about 70% of the total sales, and more than 6,000 retail outlets, mainly using the model of cooperation with agents. Storm TV is expected to expand the number of offline channels to 10,000 next year.
Among these, many offline franchise stores are from LeTV. “Sometimes, when I take a photo of the store, I also see LeTV under their container. I just replaced the LOGO on the top with a storm.†The relevant person in charge of Storm TV believes that the distributor has not had too many choices. Internet TV players only There are storms, millet, and micro whale. The micro whale is facing more pressure than the storm. It is reported that the brand sold hundreds of thousands of televisions in 2017.
However, the growth of the storm is relatively speaking. The real beneficiaries of LeTV's “falling down†are Xiaomi and Sharp. It can also be understood that LeTV’s share of market share was largely divided between Xiaomi and Sharp.
According to data from Zhong Yikang, Xiaomi’s online sales increased by 91.2% year-on-year from January to July 2017.
According to the interface news reporter, Xiaomi has been setting up a crazy store in the last six months. An internal employee of Xiaomi said that in the second quarter of 2017, the millet house under the line brought 90% growth to Xiaomi TV. ?
Not only that, Xiaomi won the Tmall TV category sales championship during the double-evening period of 2017, but also took the first sales of the 32-inch, 43-inch, 49-inch, and 55-inch mainstream segment sizes. In the subsequent "China TV Market Dual 11 Report" released by Ovi Cloud, Xiaomi TV further sat down to the top position in online sales.
According to the online data monitoring of Week 46 of Ove Cloud, from November 6th to December 12th, 2016, Xiaomi TV sold a total of 441,000 units, with a market share of 15.2%, with a year-on-year growth rate and a quarter-on-quarter growth rate of 491.4%, respectively. And 606.8%.
“Millet TV shipped 1.5 million units in the first three quarters of 2017. The growth rate among all TV brands can be described as 'glare'.†Talking about the reason why Xiaomi replaces the “top level†of LeTV, Ovid Consulting’s vice president of cloud computing Dong Min, the CEO, said in an interview with the interface news reporter that after four years of development, Xiaomi TV had relatively good supply chain management and control capabilities. When panel prices entered a downward avenue, Xiaomi was able to take advantage of its own business model to take the lead in price cuts in the industry, and sales naturally rose rapidly. ?
However, Zhang Tao of Gome Color TV believes that there is no absolute necessity for the promotion of Xiaomi’s market share and the “falling down†of LeTV. "Xiaomi is not just selling TV well, the overall product performance is very good. They do not specifically emphasize that they are Internet TV brands, but an Internet company is doing television."
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Unlike Xiaomi, another “snatcher†Sharp is a native of traditional TV brands, but Foxconn led by Guo Ting-ming has given this 100-year brand a completely different style of play.
According to Zhang Tao's analysis, prior to Foxconn's arrival at Sharp, Sharp's domestic sales, marketing, and other aspects were completed by Sharp's commerce company, and the management supply chain from factory to terminal sales was very long. After Foxconn took over, it adopted a simplest mode of operation. After the factory shipped the goods, it was sold directly to the terminal retailers. Using its advantages in the supply chain, the front-end and back-end of the production capacity, screen, etc., were fully opened. "The shortening of the middle process has made the price of Sharp TV 50% lower than that of the previous Sharp era."
In terms of cost control, Sharp is now completely different from the previous practice. For example, the usual practice is to open the mold first, and the cost of the mold is usually directly amortized on the TV. This leads to the sale of some television models that may sell for 10,000 yuan, and the speed of the market to sell only 6,000 yuan. This is because of the amortization of mold costs.
However, Foxconn uses one-off amortization. Suppose they expect a certain model TV to produce 1 million units in 2017, and the mold cost will be amortized by 1 million TVs. ?
In addition, in the past, Sharp would add the marketing cost of brand promotion to each TV. Foxconn will pay for marketing expenses and advertising costs. This part of the cost is not directly related to the price of TV. Foxconn hopes to achieve Sharp's low-cost sales in this way. ?
"Sharp's current operation method is very suitable for online sales, that is, a cost-effective, less value-added route, emphasizing practicality. Now the number of Sharp TV SKU is more concentrated, user-friendly choice. Coupled with Sharp's long-established brand advantages, It is easy to achieve sales growth.†Zhang Tao said that even if no music crisis, Sharp will take away a share from LeTV. ?
Ovid's data shows that Sharp's shipments in the Chinese mainland market for the first three quarters were 2.4 million units, an increase of 246% year-on-year, and global shipments were 5.5 million units, a year-on-year increase of 62%. With such achievements, Sharp spent less than one year and LeTV spent three years. According to the radical goals previously formulated by Gou Ming-ming, 2017 will require shipments of 14 million units worldwide. 2017 is now a full stop, but whether Sharp's goal is achieved is still a question mark. ?
Sharp has also faced a development bottleneck behind the rampant growth.
Zhang Tao predicts that Sharp's online market share will soon reach 30%, but the proportion under the line is about 10%. "Sharp's advantages are not easily demonstrated online. Online prices still dominate, but consumers need more personalized and differentiated products online. Sharp's TV products are still unable to meet this demand."
Jingdong’s insiders also believe that Sharp’s ability to pull prices from high to low is easy, but it is otherwise difficult. Sharp wants to regain high-end users, is not an easy thing. ?
At the time of the various television brands' scrambling, LeTV, which was seriously injured, is also looking for a chance to re-emerge, even though it seems hopeful.
On December 26th, LeTV released a series of 10 televisions of the New and Lean series, priced from RMB 1899 to RMB 5939. To that end, LeTV held new tastings in Xiamen, Nanchang, Shenzhen, Hefei and other places in order to regain the confidence of upstream suppliers and to attract Lepa Partners, who had gone and remained committed, to continue to choose LeTV.
Five days after LeTV released the new product, the new LeTV management committee issued an internal letter “Do not forget the heart-warming challenge - 2018 we move forwardâ€. The letter said that the new TVTV business adjustment strategy, more focus on the family, focus on the big screen, is committed to becoming a home smart Internet service operators, with a big screen as the center, extended to all aspects of smart homes, to provide users with a wealth of services. ?
This is not a particularly clear strategic direction, and it is difficult to see LeTV's obvious opportunity to stand up. At least until the problem of LeTV’s funding has been completely resolved, the “cheese†that LeTV lost will be difficult to find.
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