For example, Changhong, a well-known home appliance giant, which we are going to talk about today, is now owed 4.4 billion by Americans, and now it can only protect itself by selling buildings?
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Changhong was the best home appliance brand in 1970s and 1980s. Changhong at that time can be said to have monopolized the glans penis in the field of home appliances. At that time, many families would give priority to Changhong's brand as long as they wanted to buy home appliances. Changhong's home appliances are like a symbol of a good quality of life. It can be seen that Changhong's strength in the initial and peak period should not be underestimated. Since this Sichuan company has sprung up, many companies have to face bankruptcy because of Changhong. So what is the reason why this company will eventually face such a dilemma?
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As a perfect company, it is very important to have a long-term vision and the ability to control market trends. However, Changhong just lost here, and two wrong judgments are enough to pull this home appliance giant down the altar.
After Changhong went public, the momentum sweeping the market was very strong. If it is strong, it will naturally develop a wider field to seek more profits and income. Changhong took a fancy to the color TV market at that time. In order to monopolize, Changhong signed contracts with eight large-scale color TV picture tube factories with good development in China, which almost monopolized all the supply sources of color TV at that time. You know, color tubes are the core necessary parts for manufacturing color TVs, and Changhong's purpose is to monopolize the supply of goods and develop itself. This is the first wrong decision made by Changhong. At that time, a large number of monopolies made the market tight, but surprisingly, the remaining small-scale color tube factories were enough to supply the market demand at that time. Therefore, Changhong's monopoly was not successful, but it allowed itself to accumulate a large amount of inventory and could not be sold. At that time, Changhong aimed at the American market. In order to be able to sell it as soon as possible and find a new home, Changhong reached an agreement on credit with APEX Company of the United States. However, American companies did not repay in time according to the contract, and even defaulted for many times, and accumulated a huge sum of 4.4 billion yuan in arrears to Changhong, which made Changhong worse, affected Changhong's domestic business and lost billions of transactions.
The second wrong decision is that after the incident of Changhong Company in the United States, Changhong once again turned its attention to the development of ion screens and spent money on Hongou Display Device Co., Ltd., expecting to get rich returns. However, the market chose LCD screen, and Changhong's ion screen was cut out of the market again. One by one, Changhong's share price dropped from 58 billion to11600 million. In desperation, Changhong sold the Changhong Building with a market value of more than 100 million at a price of more than 80 million, which caused a great sensation at that time.
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Today, Changhong, no matter how hard it works, is not willing to be eliminated, and it has returned to the 8K TV as low as 3999. You know, before this, 8K TV should be sold at least at the price of 19999. Changhong chose to fight the price war, hoping to break through the cage and return to the market in one fell swoop. Changhong's future performance is still expected.
Changhong's move directly reduced the price of 8K, which may be a way to return to the market. Consumers always like to fight price wars. But now the market of 8K is not mature enough. Now most people play mobile phones and notebooks, and they don't have much dependence on TV. Changhong's future direction is still very vague.
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Shopping malls are like battlefields, and many aspects should be considered when making any decision. Changhong is definitely not the only company in the world that has caused huge losses because of mistakes in decision-making. Coupled with the rapid changes in the times, the vision is even more clumsy. If you are not careful, you may never get up again. As "Augmented Sage" said, "It's hard to rest the burden", we should do what we can and not fight unprepared battles.