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国产手机大败局之酷派滑铁卢:最终被贾跃亭拖垮的老牌巨头

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Editor’s Note: This article is from the WeChat public account “Party Research Institute” (ID: jiafangribao), the author of Party A Research Institute, the exclusive starter in Tencent Technology, without authorization, can not be reproduced. 36氪 authorized to reprint. IDC data from authoritative research institutions show that in the first quarter of this year, in the global market, the market share of Huawei, OPPO, vivo and Xiaomi mobile phone manufacturers reached 42%. Another report by Counterpoint, a research institute, also shows that in the Chinese market, these four companies have monopolized more than 70% of the market. With Huawei, OPPO, vivo, and Xiaomi’s position in the domestic mobile phone camp completely stable, the living space left to other competitors is also less and less, and the well-known mobile phone brands such as Jinli, Meizu, and Coolpad have gradually gone down. Party A Research Institute recently launched a series of planning, re-launched domestic mobile phone defeat, from these mobile phone manufacturers, summed up valuable experience and lessons. The second period: Cool Waterloo on June 12, the E Fund announced that it will hold the Cool Group shares to be valued at HK$0.00/share. HK$0.00/share means that in the eyes of professional Hong Kong stock funds, the shares of Cool Group have no value. In the original era of smart phones, Coolpad headed the “China Cool Alliance” aura, which had a revenue of 24.9 billion Hong Kong dollars (about 22 billion yuan) in 2014, ranking seventh in the global smartphone sales and sales of Chinese smartphones. Third place. However, after experiencing the early scenery, Coolpad quickly fell, and the integration with 360 and LeTV did not play a positive role. Nowadays, it is difficult to find cool images on the market. What we can see is only negative news such as changing coaches, suspending cards and selling assets. Unlike Jin Li, which was described in the first issue, Coolpad is the first manufacturer to launch a smartphone in China. It can be said that it has grabbed the first-mover advantage. Why did Coolpad eventually fall? This issue of Party A Research Institute will be revealed. 01, success or failure operator Coolpad was established in 1993, the first to do the pager business, officially entered the mobile phone market in 2003. Far from the era of function machines, Coolpad is one of the few manufacturers that have launched color-screen mobile phones and dual-card dual-standby mobile phones. It can be said that in terms of innovation, the early Coolpad is the benchmark for domestic mobile phones. In 2009, China entered the 3G era, and Coolpad also quickly deployed a series of 3G mobile phones. In the first half of 2010, Coolpad said that 3G smartphone sales growth was strong, with revenue growth of 193.8% and profit of more than 200 million Hong Kong dollars in the first half of the year. In addition, Coolpad also disclosed in the earnings report that the first Android phone will be launched in the second half of 2010, which means that Coolpad will completely enter the era of smart phones. From the perspective of product line layout, the early ideas of Coolpad are not much different from today’s Huami OV. Several Android phones were launched before the end of 2010, covering three grades of high-end, mid-range and thousand. But the important factor that makes Coolpad rise quickly is the channel. Unlike today’s major manufacturers that emphasize “online and offline”, Coolpad used operators as the most important channel. In October 2010, Coolpad and China Telecom announced their first mobile phone using the Android operating system – Cool N930. According to public information, the Cool N930 is underwritten by Tianyi Telecom Terminal Company, a wholly-owned subsidiary of China Telecom, and is fully sold in China Telecom’s business offices, mainstream mobile phone stores and mobile phone retail stores. The advertisement also highlights the elements of China Telecom. At the same time, Coolpad also cooperated with China Telecom to spend more than 100 million yuan to launch marketing campaigns. In the prime time of CCTV weather forecast, focus interviews, and popular local stations such as Hunan Satellite TV and Jiangsu Satellite TV, Mammoth advertising. In addition, Coolpad also cooperated with China Unicom to launch the first thousand yuan Android mobile phone W711. From these two cooperations, it can be seen that as early as the early days of the smartphone era, Coolpad had strong bindings with operators in terms of channels and markets. The results of working with operators are obvious. Cool 2010 annual financial report shows that Cool’s annual revenue of 4.593 billion Hong Kong dollars increased by 76.3%, net profit of 480 million Hong Kong dollars, an increase of 100%.From the perspective of mobile phone products, the number of Coolpad smartphone shipments in 2010 was 5.04 million units, up 132.3% year-on-year, of which revenue from smartphones was HK$4,037 million, up 164.4% year-on-year, accounting for nearly 88% of total revenue. It can be said that the transformation of Coolpad from function machine to smart phone is very successful, and among them, the operator channel has contributed. Thanks to the business in the early years, the cooperation between Coolpad and operators is very close. Before the release of the Cool N930, Ma Daojie, then the general manager of China Telecom Tianyi Terminal Company, revealed that in the sales of CDMA smartphones sold in the first three quarters of 2010, the sales share of Coolpad mobile phones was close to 30%. In the era of smartphones, Coolpad continues to strengthen its cooperation with operators. At the end of 2012, Coolpad data showed that 95% of its mobile phone shipments were self-operated by operators, and even high-end machines still took the operator channel. According to public data, Coolpad has more than Samsung in the operator’s customized terminal market, and through the operator, Coolpad has also created a variety of explosive models. “Investor News” has said that with the help of operators, Coolpad not only achieved breakthroughs in sales, but also achieved an extension from first- and second-tier cities to third- and fourth-tier cities. In addition, China has some special requirements such as dual-card dual-standby technology. These products are all related to the requirements of operators. The latter is more active when recommending mobile phones, which further stimulates the sales of Coolpad. Cooperation with operators continues to drive the growth of Cool’s revenue. In 2013, Coolpad revenue was HK$19,623.7 million, up 36.4% year-on-year; in 2014, Coolpad revenue climbed to HK$24.9 billion, up 26.9% year-on-year. The revenue of HK$24.9 billion is also very close to the goal of “realizing 30 billion in 216 years”. But just as Coolpad triumphed all the way, some people noticed that it is not a long-term solution for Coolpad to rely too much on operators. Although the operator’s custom machine saves channel costs, it also makes Coolpad lose pricing power. Cool tens of billions of dollars a year, but the net profit is only about hundreds of millions of dollars. In addition, in the summer of 2014, the SASAC asked the three major telecom operators to cut marketing fees to stabilize profits. As carrier subsidies gradually decrease, more and more consumers are beginning to shift to e-commerce and offline stores, and the proportion of operator channels in smartphone sales is getting lower and lower, which makes Cool Accumulated operators The advantages are gone. The hardships of the cool people began from this time. 02. Expanding the e-commerce channel, but Coolpad chose the wrong target. When realizing that the operator channel can no longer increase sales for itself, coupled with the blush of the Xiaomi model, Coolpad will focus on the e-commerce channel. However, Coolpad is a traditional mobile phone manufacturer and lacks experience in the Internet. Therefore, Coolpad chose to cooperate with the orthodox Internet company. At the time, Internet companies also set off mobile phone fever. It was at this time that there was a combination of Cool and 360 and LeTV. In December 2014, 360 announced that it had formed a strategic alliance with Coolpad to establish a joint venture with Cool Investment of $405.05 million in cash, and 360 will hold a 45% stake in the joint venture. The joint venture will focus on mobile smart devices, and the “Great God” brand of smartphones launched to the market will use the Internet as the main channel and build a mobile ecosystem based on this. But it turns out that the cooperation between 360 and Coolpad is more like a farce, because in this, there is a spoiler – LeTV. In June 2015, 360 Chairman Zhou Hongyi sent internal mail to all employees of Qikuo Technology Co., Ltd., appointed Li Wang as the president of Qikuo Technology, Pan Zhiyong as the Chief Commercial Officer (CBO), and Zhu Fanghao as the Chief Technology Officer (CTO) of Qikuo Technology. . Zhou Hongyi said in the mail that Qikuo Technology has been operating smoothly for half a year and has entered a period of high-speed operation. The combination of Qi Cool Technology’s grinding combined with strong combat power exceeded expectations. According to the email, Qikuo’s first mobile phone product will be released soon. But when 360 Chairman Zhou Hongyi (microblogging) appointed 360 and Cool’s joint venture Qikuo Technology executives, and planned the release of 360 new mobile phones, LeTV announced that its company’s 2.7 billion Hong Kong dollar shares in the Cool Group, became Cool The two major shareholders.周鸿祎当时的朋友圈截图这样的合作在360看来,如同一次“背叛”。因为入股酷派,可以让360的直接竞争对手乐视,同样获得了酷派的IP和研发能力。在乐视宣布入股酷派后,周鸿祎曾在朋友圈表示:“谁在我背后捅刀子试图screw我,我的原则是一定fuck回去。”尽管酷派、乐视方面一再强调,乐视入股酷派,不会影响360和酷派的合作,但是事实却并非如此简单。经过3个月的短暂沉默,2015年9月,360宣布其已书面通知酷派公司,要求酷派公司按照股东协议内容,购买360在双方共同成立的合资公司中所持有的全部49.5%的股权,总价约14.85亿美元。360称,此举是希望酷派立即停止违反合资协议的行为,停止其与竞争对手乐视资本合作后对合资公司奇酷带来的持续性伤害。据当年的知情人士爆料,在这三个多月里,周鸿祎曾作委曲求全的努力,甚至可接受酷派和乐视在一起的现实,但前提是酷派支持好奇酷做手机,在知识产权、供应链、人员方面要有股东该有的支持。但谈了几个月酷派方的支持一直无法到位,随着乐视介入的加深,包括贾跃亭进入到酷派董事会,酷派与乐视甚至越来越把奇酷当竞争对手而非合资公司看待。在多次协商无果之后,360决定向酷派发出认沽期权行权通知。随后,三方经过了多轮的拉锯战。终于在10天后,360宣布,已经与酷派集团就双方合资公司奇酷科技的股权调整问题达成了新协议。协议签署后,酷派集团持有的奇酷科技股份将由50.5%降至25%,而360公司所持奇酷科技股份将增加到75%。至此,360成为奇酷的第一大股东,酷派集团变为第二股东。从账面上看,360拥有了对奇酷的控制权。但是根据最新协议,奇酷科技将会赎回酷派集团持有的一部分股权。为此,酷派集团将撤回其此前向奇酷科技注入的、与“酷派”品牌智能手机相关的部分互联网运营业务。这意味着,奇酷完全脱离酷派掌控后,所谓供应链、生产研发、应用分发等“紧密合作”也只能是停留在纸面。相比360,乐视真正获得了酷派集团最为核心的供应链和专利能力,以及主要硬件研发能力。因此,酷派将未来转型互联网手机品牌的筹码,押在了乐视身上。在入股酷派之后,乐视也在一点点接管酷派。2016年8月,酷派原董事长郭德英已将衣钵递给了乐视创始人贾跃亭,这标志着酷派在战略发展上将被大股东领导。与此同时,酷派也将参与到乐视的生态化反之中,获取其互联网内容资源,应用于自身发展。这一消息,使得酷派股价此后三日内飙升了近20%。此外,酷派还迎来了前荣耀总裁刘江峰操刀公司的转型发展,并提出了五年内要使酷派回归行业第一的口号。但这样的口号更像是一个玩笑。2015年,酷派去年营收为146.679亿港元,同比下滑了41.1%;2016年,酷派收入为79.69亿港元,同比减少45.7%,净亏损43.79亿港元。比亏损更致命的是,2016年乐视的资金链危机开始全面爆发,手机也是尤其是重灾区,因此酷派也受到了严重的影响。在资金危机的拖累之下,无论是电商渠道还是线下渠道,酷派都开始全面落败,眼看着小米、荣耀、OPPO、vivo等后起之秀开始茁壮成长,即使是与联想、中兴相比,酷派也被远远地甩在身后。接下来我们看到的就是酷派一系列的负面新闻:裁员、卖地求生、拖欠银行贷款、停牌一年等等。等到摆脱乐视这个大麻烦之后,酷派复苏的希望也越来越渺茫。03, written in the end, of course, there are many reasons for the defeat of Cool, such as the brand positioning is not clear, the product line is too chaotic, etc., but over-reliance on operators, and the excessive internal friction with LeTV, missed the transformation opportunities, is to put The two tricks of the cool down are heavy punches. Today, when it comes to cool, more is the opposite. The most recent heavy news about Coolpad was in January this year, Coolpad appointed 27-year-old Chen Jiajun as the company’s executive director, chief executive officer and company nomination committee member, and Chen Jiajun’s other identity is the founder and chairman of the Beijing-based group Chen Hua “Two sons.” Behind the coaching change, we saw that Coolpad frequently sold land to ease the pressure on funds: In 2017, Coolpad won RMB 40 million by selling land; in July 2018, Coolpad once again sold 238 million Hong Kong dollars through the sale of land. On April 25, 2019, Coolpad sold the land again, in exchange for a net income of 52 million yuan. But while changing coaches and selling land to supplement blood, the prospects of Coolpad are still unclear. The domestic mobile phone market is gradually saturated, and the monopoly advantage of Huami OV is becoming more and more obvious. The brand of Coolpad in the hearts of young people is becoming more and more shallow. Behind the lack of money, Coolpad is unable to continue to invest in technology. In June 2019, China officially entered the 5G era, which is a reshuffle opportunity for the Chinese mobile phone industry, but can we still see the cool mobile phone? .

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