laitimes
return

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

author：Scholar talk
The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

Text: Zhao Gongzi

Editor|Zhao Gongzi

Sources: All of the information stated in this article is based on reliable sources, and is detailed at the end of the article

Preface

I believe everyone has heard an advertising slogan: rainbow in the sky, rainbow in the world.

Changhong TV in the 90s, as the most competitive national brand,The sales volume in China that year far exceeded other domestic and foreign brands,There is a Changhong for almost every three TVs。

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

But this is how it has become one of the three sets necessary for young people to get married,The glory of Changhong TV failed to go all the way to Changhong like the name,Instead, it came to an abrupt end。

And the reason why Changhong TV has fallen from a leading enterprise to a third-tier brand,There are also different opinions,There are even more claims that the American company is in arrears and dragged down。

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

So how popular Changhong TV was at that time, and why did it decline? This has to start with a person named Ni Runfeng.

The results of the "military-to-civilian" transformation of enterprises

Ni Runfeng, who graduated from Dalian Institute of Technology with a major in mechanical manufacturing, was appointed as the new director of the state-owned Changhong Machinery Factory in 1985.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

And this factory is actually the predecessor of the well-known Changhong TV,Ni Runfeng, who was still very young at the time, was full of momentum。

At that time, Ni Runfeng decisively took Changhong to use TVs as the main products, and used military technology and a series of quality inspection and control standards for TV production.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

With the quality advantage of military products,Changhong TV instantly emerged in the market,Since then, Ni Runfeng has led Changhong to complete the transformation。

The transformation from a single military production to the integration of military and civilian products has enabled Changhong to achieve a major goal of "finding benefits for enterprises" in Ni Runfeng's mouth.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

When the domestic securities market was still in its infancy, Ni Runfeng decisively seized the opportunity and led Changhong to be listed on the Shanghai Stock Exchange in 1994.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

In the second year, Changhong topped the list of China's top 100 electronics, and with its military-grade manufacturing process, it instantly changed the situation of foreign brands monopolizing the market.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

By 1996year,In the national color TV market,Domestic brands represented by Changhong TVs accounted for more than seventy percent of the market。

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand
The above content is referred to from the report of the State-owned Assets Supervision and Administration Commission of the State Council on March 22, 2019 on "Ni Runfeng: An Innovator in the Practice of "Converting Military to Civilian" in Enterprises".
The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

For the future development prospects of Changhong TV,Ni Runfeng has firm belief and confidence,He once said,Their teachers are regressing,Because their costs are too high。

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

In Ni Runfeng's concept,Changhong TV will become a "world-class enterprise" in the future,Ni Runfeng still has five reasons to support this dream。

The first point is that all the assets used by the company at that time were very sufficient, and as a listed company, financing on the stock market can ensure the source of funds.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

The second point is that as a leading enterprise of domestic color TV enterprises,Changhong has its own connotation and advantages,The brand image is also widely spread abroad。

The third point is that we are very confident in our own technology and quality, and we have the prototype of a world-class enterprise regardless of the scale or level of the enterprise.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

The fourth point is the advantage of color TV technology to change to other fields,Ni Runfeng believes that even if the sales of color TV are saturated,There are many other fields that can be transformed。

The last point is the advancement of the times, Changhong's state at that time, if it can't go further, it is likely that other companies will seize the opportunity.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand
The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand
The above content is referred to from Baidu Encyclopedia's record of "Ni Runfeng's telephone contact with China Economic Times".

But this time, the times did not give Changhong a chance to go further, but instead "slapped Changhong on the beach".

There are different opinions about the loss of 4 billion

I don't know when it started,Changhong TV's share of the market has gradually shrunk,Even the fame of Changhong TV has become what it once was。

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

And the explanation for Changhong TV's fall from the altar is also varied,There is no definite statement,Some people associate this phenomenon with a company in the United States。

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

When Ni Runfeng was still in Changhong,He wanted to monopolize the entire color TV market through the monopoly of raw materials,So he hoarded a lot of goods。

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

But in fact,The domestic market color TV has reached a state of saturation,This has led to Changhong falling into the embarrassment of a large amount of inventory backlog。

In this case, Changhong began to actively seek to open up foreign markets, and under the urgency of medical treatment, Changhong opened cooperation with foreign companies.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

However, this cooperation did not save Changhong, but directly caused Changhong's heavy losses, because overseas enterprises had been in arrears at that time.

According to the Internet, this incident happened in 2004, and this year was also the time when Ni Runfeng stepped down as chairman of Changhong.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

Therefore, Ni Runfeng's resignation as chairman of Changhong further confirms this matter, and even the spearhead is directed at APEX in the United States.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand
The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand
The above content is referred to from the report on September 4, 2021 about "the former "color TV king", who narrowly went bankrupt due to 2 wrong decisions, and is now "obscure".
The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

So is this really the case? Obviously, for Changhong, this may not be the whole truth of the matter, because there is another way of saying it.

After Ni Runfeng stepped down, Zhao Yong took on the heavy responsibility, and Changhong ushered in the "Zhao Yong era", but Zhao Yong, chairman of Changhong, was reported by his real name.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

This matter also starts from the upgrading of global display technology in 2005, plasma technology and LCD TV technology were born.

And Zhao Yong led Changhong to take the road of "plasma technology" at that time, but this was the wrong bet.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

At that time, companies like Sony and Sharp gave up plasma technology one after another, and those who still stuck to this track were only Changhong and Panasonic.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

Zhao Yong believes that as long as he wins the upstream technology of plasma, he will be able to lead Changhong to dominate the plasma market.

So Changhong spent $2 billion to pocket South Korea's Orion Plasma Company, and also spent a considerable amount of money to specialize in the production of plasma panels.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

But such a desperate gamble also made Zhao Yong fall into a huge problem, because plasma technology is not as widely used as liquid crystal technology, so it will naturally be gradually eliminated.

It wasn't until 2014 that Changhong finally announced that it had stopped the plasma business, which had become a chicken rib, which meant that nearly 4 billion investment was wasted.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand
The above content is referred to from the report on September 28, 2014 on "Sichuan Changhong plasma production line plans to stop production with 4 billion investment or waste".
The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand
The above content is referred to from the report on September 28, 2014 on "Changhong plans to withdraw from the plasma business, and the investment of 4 billion yuan will be wasted".
The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

Such a strong man broke his wrist, undoubtedly let Changhong fall into a difficult state, and even on July 27, 2015, Yang Xuejun, deputy secretary of the Party committee and secretary of the Discipline Inspection Commission of Changhong Group, reported Zhao Yong in his real name.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

In Yang Xuejun's open letter, he said that Zhao Yong was suspected of causing huge losses of state-owned assets in the plasma project, and also publicly reported the case.

In fact, the report is mainly aimed at Zhao Yong in the plasma business, and did not lead Changhong out of the predicament, but let Changhong go downhill.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

There is also a saying that although as early as 2004, Changhong lost a lot of money because of the export to the United States, but the background is still there.

However, after Zhao Yong took over the chairmanship of Changhong, he deviated from the right choice on the important bifurcation road faced by the company in the two major technologies of plasma and liquid crystal.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand
The above content is referred to from the report on July 29, 2015 on "Zhao Yong, chairman of Changhong, was reported by real name again, and the industry said it was related to internal differences".
The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

All in all,Changhong TV from the initial glory,To experience many failures on the road of choice,Finally, it has become a brand that has been losing and retreating。

The former TV overlord is now no longer brilliant, and he is "out of the crowd".

epilogue

No matter how large-scale an enterprise is, or how powerful it once was, if it cannot conform to the trend of the times and control the opportunities of the times, it will eventually be abandoned by the times.

The national home appliance giant that fell off the altar: it was owed 4 billion by an American company, and now it has become a third-tier brand

As the saying goes: "When the times are going to abandon you, they won't even say hello." ”

Do you know the brand of Changhong TV?What do you think about the ebb and flow of the Changhong brand?

United States
Previous: Mukosh: Crushed Ma Yun to become the richest man in Asia, abandoned the 1 billion mansion, and fled India with 10 billion
Next: How good is Ni Ping at talking? Cleverly sent Chen Peisi's autograph, netizens: It is worthy of being the leader of CCTV

Read on