Editor's note:
The home appliance industry is the industry with the earliest opening hours, the fastest development, and the highest degree of internationalization in China. Behind the glamorous, many data and data show that the efficiency of China's home appliance industry is low, and the continued competitiveness has not risen with the expansion of scale. The whole industry has shown a state of “weightlessnessâ€.
As a small branch with the lighting industry, the lighting industry is now showing a trend of rapid development and scale expansion. Similarly, the rate of increase in scale is not directly proportional to its benefits. Then, as an industry that is not fully mature, whether it should be used as a guide.
In recent years, the scale, production and sales of China's home appliance companies have continued to expand, and the development momentum is strong. It can be described as a “beautiful†family among Chinese companies. However, under the seemingly glorious prospects, there are hidden dangers.
Rapid development and low-efficiency peer data show that China's home appliance industry is developing rapidly. Taking color TVs and mobile phones as examples, China is a big country in color TV and mobile phone manufacturing in the world, with a sharp increase in output and exports. In 2005, color TV production accounted for more than 50% of the world's total, mobile phone production accounted for 36.8% of the world, and exports have become the main driving force for the development of China's home appliance industry.
From the perspective of enterprises, Lenovo, Haier, Changhong, TCL, Hisense, Konka, Skyworth, Midea, Bird, Amoi and other major home appliance companies, during the period 2000-2005, the vast majority of sales revenue doubled, even in number Doubled. In 2005, their overall operating income was more than three times that of 2000, and exports accounted for a doubling of total sales.
In the process of meeting the needs of domestic and foreign markets, home appliance companies have been expanding their scale, production and sales through various means. For example, BOE has been a blockbuster. In February 2003, it acquired the assets of TFT-LCD (Thin Film Transistor Liquid Crystal Display Device) of Display Technology Co., Ltd. of Korea Hyundai Group for US$380 million. In August of the same year, it acquired Taiwan TPV Technology for HK$1.05 billion. The 26.36% stake in the company has increased its sales revenue from less than 2.3 billion yuan in 2000 to 55 billion yuan in 2005. In 2004, TCL acquired the world's largest color TV company, France Thomson, and formed a joint venture with the world's communications equipment giant Alcatel for mobile phone production. In 2005, TCL color TV sales exceeded 23 million units, and mobile phone production and sales. It has also exceeded 10 million units in successive years. At the end of 2004, Lenovo broke the Internet and acquired IBM's PC business for US$1.75 billion. In the second year, computer production and sales jumped to the top three in the world with more than 14 million units. In August 2005, Haier and the world's home appliance giant Whirlpool bid for the US's third major power giant Maytag. Although it eventually gave up because of various pressures, its ambition to become the global leader of white goods is still there. In addition, Galanz and Midea's microwave ovens have a production and sales volume of more than 10 million units, both of which have entered the top three in the world. As the largest domestic mobile phone manufacturer in China, Bird also set a record high of 13.93 million mobile phone sales in 2005. Gree's air conditioners, Haier's refrigerators, and Changhong's color TVs are all measured in millions of units, and the production capacity has reached world-class.
However, in contrast to the significant increase in sales, the total profit of the ten major home appliances companies has fallen by 10%, and the sales profit margin has fallen sharply. In 2005, several major home appliance companies experienced huge operating losses: TCL lost 1.465 billion yuan, Amoi lost 658 million yuan, Bird Mobile lost 470 million yuan, and Haier's mobile phone business lost 461 million Hong Kong dollars.
Small proportion of R&D investment From the perspective of data analysis and the experience of world-renowned companies, China's home appliance industry has low efficiency. One of the reasons is that R&D investment is too low, and there is no core competitiveness that is built on technological innovation capability.
We can compare the operating conditions of Lenovo, Haier and Intel, and Microsoft. Between 1998 and 2004, Intel and Microsoft's cumulative R&D (R&D) investments amounted to approximately $25.8 billion and $29.4 billion, respectively, and R&D inputs accounted for 12.5% ​​and 16.3% of sales, respectively. With huge investment in technological innovation, Intel and Microsoft have formed a continuous technological innovation capability, and the core competitiveness and advantages brought by this continuous innovation capability not only effectively suppress the development space of competitors, but also successfully squeeze out The profit space of competitors occupies the value of the computer industry value chain and the technical commanding heights, and almost takes all the profits of the computer industry, and builds a “rich and profitable – huge R&D investment – ​​continuous technological innovation capability – continuous core competitiveness and The benign cycle of superiority—occupying the high end of the value chain—rich and profitableâ€, the average sales profit margin is as high as 20% and 30% respectively.
In contrast, Lenovo and Haier, despite China's current leading home appliance companies, achieved sales revenues of 100 billion yuan in 2005, and the growth was rapid. However, the cumulative R&D investment of the two companies accounted for only 2.27% of their respective sales during the period 2001-2005. 4.97%, and since 2002, there has been a decline, which is contrary to the increasing world trend of R&D investment.
A direct consequence of low R&D investment is the lack of technological innovation and the lack of core competitiveness, which can only be at the low end of the international industrial chain. In 2005, China's color TV production accounted for more than 50% of the world's total. However, China's color TV enterprises generally face the technical bottleneck of not being able to produce high-end LCD panels. Therefore, they have to give high value-added on the color TV value chain to foreign competitors. Profits are diluted and even lost. China's mobile phone production accounted for 36.8% of the world. It also lost its original competitive advantage due to limited investment in technology research and development. The growth was weak. The market share dropped from 55.82% in 2003 to 44.5% in 2004 and 40.6% in 2005. .
It can be said that at present, if China's home appliance enterprises do not step up technical research and development, they will gradually lose the "center of gravity" of sustained core competitiveness. The lack of a single market orientation of technology does not necessarily lead to a true success.
Way Out: Technology and Market Dual-Core Driver
Past lessons have also taught us that the continued development of a company requires both technology and market. The lack of technical support cannot provide a long-lasting market and even become an opportunity trap. This kind of example is everywhere in China. On the other hand, advanced technologies that deviate from commercial value may also lead to corporate failure. Known as the miracle of the technology field, Motorola's comet mobile communication system, jointly developed by Britain and France, is known as the legendary Concorde large jet aircraft in the history of human aviation technology. It has the technology crown of Bell Labs and became the AT&T of the century-old communications emperor. I have tasted this evil.
In China, Huawei is one of the most important companies in technology, technology innovation and intellectual property management. Its R&D personnel account for more than 40% of the total number of employees, and R&D investment accounts for 13% to 19% of sales revenue. . Huawei also has its own unique understanding of technology: First, core technology refers to technology that creates opportunities to guide consumption, rather than looking for opportunities to seize opportunities. Second, companies should not be technology-oriented and should be business-oriented. The organic combination of this technology and the market not only enabled Huawei to successfully pass the "winter winter", but also cultivated international competitiveness and ushered in another spring.
Realizing the dual-core drive of technology and market may be the future of China's home appliance industry.
Looking at the current situation of China's home appliance industry and some relatively successful IT companies, then scale, technology, and efficiency are all important. How to weigh, adjust, and coordinate their proportion is what our lighting companies should consider now.
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