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In the 1980s and 1990s, there were still very few home appliance enterprises in China, and after decades of development, many home appliance companies were born in China, and "Made in China" home appliances entered thousands of households. However, some old home appliance companies are gradually moving towards loneliness in the process of development.
The home appliance company that was once on a par with Haier, because the 4.4 billion yuan of payment could not be recovered, now sells the building to save itself. That is Changhong home appliances, a once popular home appliance giant, what happened?
A home appliance company with the same name as Haier
For the brand of Changhong, we are not strangers. In the early years, the TV brand at home was Changhong. Changhong is an old brand, founded in the 50s, occupying an important market share in the TV market.
In 1972, Changhong's first TV set entered the market, it was very hot, and then in the field of television are in a leading position, talking about color TV people must think of Changhong. However, in today's color TV market, people rarely talk about Changhong, but some new home appliance brands have begun to seize the market.
For example, Xiaomi, LeTV, Hisense, Konka, Skyworth, etc., for Changhong, the highlight moment is no longer there, why did Changhong fall to the altar? It should be known that Changhong, a home appliance brand, has maintained the sales champion for 20 consecutive years, and has a history of more than 60 years since its establishment in 1958.
In 1994, Changhong was also successfully listed, it can be said that the development prospects of Changhong are very impressive, this once able to be on a par with Haier's home appliance giant, but then began to decline. In 2018, in order to be able to withdraw funds, Changhong sold the Shanghai Changhong Building for 100 million yuan. Can't help but ask, what happened in Changhong?
What happened to Changhong?
Changhong from the former home appliance giant, to the back of the sale of buildings, what is behind this transformation? It can be said that in the process of development of Changhong, there have been three decision-making errors, which has also affected the development of Changhong.
For the first time, monopoly color pipe. For the television industry, color pipe is a very important part, if the lack of this part, the development will be affected to a certain extent. Changhong also signed a cooperation with the eight major domestic color pipe factories before, originally thought that it would cause some pressure to the market, but did not expect that there was no shortage of color pipes in the market, and Changhong instead caused a certain amount of financial pressure because of a large amount of hoarding.
The second time, the 4.4 billion payment could not be recovered. This is not a small amount, and the reason why Changhong has such a high payment for goods is a bad debt is because it is eager to enter overseas markets. Signed a cooperation with the US distributor APEX and agreed to the other party to pay on credit, but the payment was delayed, accumulating up to 4.4 billion.
Third, the development of plasma. The advancement of science and technology, television sets are also constantly improving, from picture tubes to LCD TVs, but Changhong has spent 4 billion yuan on plasma research and development, although a certain breakthrough has been made in this field, but LCD TVs are the home.
Write at the end
Successive decision-making mistakes have also brought certain obstacles to the development of Changhong and also lost a lot of funds. Today's Changhong can be said to have no previous advantages. Shopping malls are like battlefields, and even if they were brilliant, they may face certain difficulties.