Recently, there has been a big melon on the Internet, and I believe fox friends have eaten it: Musk bought Twitter for $44 billion (about 287.32 billion yuan) in cash. Upon completion of the transaction, Twitter will become a privately held company. Coincidentally, Guozi recently saw another news: Honor is considering listing in China in 2022, with a valuation of $45 billion.
Guo Zi fixed his eyes on it: Good fellow, this number is still quite close, isn't it? It turns out that the value of glory is higher than Twitter?
Although this news was officially denied by Glory, this is not the first time Glory has been rumored to be listed. In fact, as early as November 2020, when Huawei sold Honor to the outside world, it was already rumored that Honor's goal was to be listed within three years. Later, in August 2021, some dealers broke the news that Honor notified the core dealers that they might be listed in the near future, and the core dealers could subscribe for original shares ranging from 5 million to 50 million yuan. The specific where to list, when to list, and the price of issuance, Glory has not yet decided, but listing is a certain thing. Returning to the rumor that "Glory is considering listing in 2022 and seeking financing at a valuation of $45 billion", it is worth mentioning that the domestic media mistranslated it as "raising $45 billion" when reporting, and Glory's official negative reply is also aimed at this mistranslation. In other words, Glory did not deny the listing, it can be said that it is very rigorous.
Moreover, the more concerned seems to be the figure of $45 billion, that is, whether Glory can support the valuation of $45 billion? After all, the current global IPO funding record is $29.4 billion set by Saudi Aramco, the world's largest oil producer, in 2019, and Ali is close behind with $25 billion. Independence is only in its third year, and it is still the glory of the "newborn calf", and many people are opposed to whether this astronomical amount of funds can be raised. The reason is simple: even glory's top management is ambiguous about the listing. In 2021, the domestic veteran communications giant Bird shares, once rumored to be listed by glory backdoor listing, its stock price rose by more than 20% in 3 trading days. But in a later interview, Zhao Ming denied it, saying: "Glory has only been independent for eight or nine months, and we have never pursued overnight wealth." Regarding the future, Glory thinks about how to match Apple and even surpass Apple on mobile phones and all-scenario products. ”
Regardless of whether Glory has really been successfully listed recently, when we look back at the history of Glory's development after independence, we can find that Glory is indeed working hard to benchmark Apple. In other words, glory should also be high-end.
Honor also wants to do high-end "The core of Glory's high-end rise is to compete with Apple. "After coming out of Huawei's independence, Honor has riveted enough energy to do high-end." But doing high-end things for Glory is not simply to go through the road it has taken. It has to face many more stereotypes than Huawei did at the beginning. In November 2013, Honor, as a sub-brand of Huawei, was born, positioning itself as a mobile phone brand in the Internet sales channel, facing young people, adhering to the low-end price point, and harvesting the market with high cost performance. Therefore, from the beginning, Honor is not another product line for Huawei to do "dual flagship". It benchmarks red rice to millet, maintaining enough cost performance to fight with friends and seize the sinking market. So that the parent brand, that is, Xiaomi and Huawei, can let go of pricing and impact the high-end.
In 2017, With sales of 54.5 million units and sales of 78.9 billion yuan, Honor ascended to the throne of China's Internet mobile phones. Since then, Honor has won the first place in sales and sales in China's online mobile phone market for many times. For a long time, glory has been deeply rooted in the hearts of the people with the image of the cost-effective model. Changing consumer stereotypes of glory doesn't happen overnight. In 2020, after departing from Huawei, Honor established a new positioning: product positioning in the high-end market, launching top flagship products, creating a global iconic technology brand, and building an all-scenario, omni-channel, and service to the entire population. In the release of products, Honor has also accelerated the pace and quickly laid out. Before independence, the Honor flagship followed the rhythm of annual updates. After independence, the speed of updates of high-end flagship machines such as Honor's digital series and Magic series has been adjusted to be updated semi-annually.
In the past year and a half, Honor has released mobile phones including V40 series, Honor 50 series, Magic3 series, Honor 60 series, X20 series, X30 series, Play 5 series, the first folding screen MagicV series, Magic4 series, etc., which can be described as rapid development. In this process, Honor has formed four complete product systems of Magic series, digital series, V series and X series, and covers the price range below 2000 yuan (X series), 2000-2300 yuan price segment (Play 5 series), 2500-4000 yuan price segment (digital series), 4500-8000 yuan price segment (Magic series), 10000 yuan series (folding screen series).
Although the completed product system has been formed, it is still not easy for Glory to occupy the market and impact the high-end road. Last year, from 16% of the market share before independence, to a trough of 3%, and then to 17% at the end of the fourth quarter of 2021, Honor drew a classic "smile curve" with shipments.
The latest data shows that in the first quarter of 2022, the sales volume of the Chinese mainland smartphone market was 74.39 million units, a sharp decline of 14.4% from the same period last year. Glory bucked the trend, up 176% from the same period last year and up 20.9% month-on-month, ranking second in sales of all brands, selling 12.6 million mobile phones, followed by OPPO, which ranked first.
However, the huge shipment volume of Honor is still dominated by running models. According to CINNO Research statistics, Honor's three models entered the top ten of the first quarter single product sales list, namely Honor 60, Honor X30 and Honor Play 30 Plus. Among them, only the Honor 60 belongs to the high-end model, and the latter two are run-volume models. From the perspective of offline sales, dealers also said: "From our sales point of view, the most popular model of Honor is still the model of running volume, concentrated in the price range of 2000 yuan - 3000 yuan. But magic 4 doesn't sell well, also because its pricing is high, and there is a feeling that it has to be fixed in one step. It can be said that the high-end road of glory, like Xiaomi, a friend who also shouted "benchmark apple", is still a long road.
High-end, how to achieve? Guozi believes that the most important thing is its own core technology. Let me give you an example. For example, folding screen mobile phones, for crease solutions, Huawei has a unique "water drop hinge" patent, which has a good response on the P50 Pro and the newly released Mate Xs 2. The solution of Honor Magic V is based on the Ampheino public version of the solution.
For another example, Huawei's P50 series focuses on computational photography, with a set of computational optical algorithms, even the Mate 40 Pro can not be used. This also makes the P50 Pro, which originally lacked a high-quality periscope telephoto, compete with its own Mate 40 Pro or Samsung S21 Ultra and Xiaomi Mi 11 Ultra after algorithm-optimized telephoto imaging. The glory of Magic 3, Magic 4, although also the main photography ability, but ultimately failed to carry the huawei P50 series of algorithms, and even in the later media reviews, there have been incidents of image overturning.
Leaving aside the similar appearance of Huawei, the pedigree of Huawei, in the inner volume of the Chinese mobile phone market, Glory does not have too much of its own, others can not imitate the characteristics, nor let others "have to choose Glory" software and hardware advantages. Although in terms of sales and market share, Glory has recovered some of Huawei's lost ground, but it has simply become a "small Huawei", and Guozi believes that it will not be what Zhao Ming and Glory want. How to hit the high-end? How to make a special advantage? There are many more problems left for Glory to solve. Editor: Question mark reference: Radar Finance: Glory and double-handedly launched the listing, can it be worth $45 billion? 36Kr: Can Honor's listing be valued at $45 billion? Xiaomi smiled awkwardly... All-weather technology: a year and a half independent, Glory failed to become the next Huawei Lujiu Finance: Glory benchmarks Apple, must first win OV Youniu Finance: Before shouting against Apple, Glory must first "become itself"