After nine months of suspension, LeTV Network formally resumed trading on January 24. As the fuse of this capital chain crisis, LeTV phones have no new trend since the launch of a new product in April 2017.
This version of the music chain controversy released Le Pro3 dual-camera version of AI, is considered to be the last phone LeTV in the nine months after the release, and Le mobile phone-related information is the supplier debt collection, sale point Stop, idle fish on sale, executives leave, staff abolition and other large-scale.
In 2016, Coolpad, which is married to LeTV mobile phones, is also suffering from problems such as transitional pains and shortage of funds, etc. Since the joint launch of '2017 LeTV + Coolpad in 2017, hundreds of millions of sales targets have been achieved, with Huawei + Glory and OPPO + vivo The ambition of the first three years has long been lopsided.
Mobile phone business status
In November 2016, Joyce Holdings CEO Jaypy Leung said in an internal letter: "The upsurge in supply chain pressure in recent months coupled with the funding problems that have always accompanied LeEco's development have led to a tight supply and a huge impact on the continued development of the mobile phone business influences' .
At the time of the music as the phone burst into the domestic market in just two years, the top ten sales, sales approaching 20 million, is hitting the ecological slogan Hurricane Suddenly its holding 28.9% of the small partners Cool just joined the music as the eco-3 months, hoping to pass Marriage of music from a simple hardware company into an eco-type Internet company, access to more room for development.
In this internal letter, Jiayuenting proposed that the ecological strategy should enter the second phase: bid farewell to burning money to expand and focus on the existing ecology. "LeTV handsets have adopted eco-subsidy hardware and negative profit pricing strategies since the beginning of the bidding, bidding farewell to burn-in, which means LeTV no longer Funding for the mobile phone business undoubtedly greatly dampened its competitiveness in the music as the high debt of mobile phones, every few tricks to be blocked door debt situation, the contraction of business has become inevitable.Then there are mobile channel operators, due to the long repair and rework to abandon sales cycle Music as mobile phones, aftermarket points due to failure to obtain spare parts supply and stop service.
In April 2017, LeTV Group officially appointed LeTV Vice President of Strategy, Abdalukamu Abdalmitti, as LeTV Mobile CEO (in total), responsible for the overall daily operation and team management of LeTV Mobile. Month, the former music as the head of mobile Feng Xing officially leave.
A number of mobile phone industry professionals on the 21st Century Business Herald reporter said that as the mobile phone team has disappeared.Reporter recently contacted a number of the original music as mobile workers, have said they have left.As music as mobile CEO (on behalf) 4 months later, Ami Left music.
The first mobile phone industry research institute Sun Yanbiao introduced to reporters, as the phone has no new supply in the market, only in the clearance of goods.After the market had a new music as the phone screen module for sale are low-cost buyers.
In the first half of 2016, the Coolpad, which reported a loss of HK $ 2.05 billion, plunged sharply in the day following the release of Jia Youting's internal letter, after which the stock price of Coolbuster continued to drop and was suspended until the end of March 2017 and was suspended at HK $ 0.72 before its suspension. Annual report is not released yet.
Cool also experienced sales damage, high-level exchange of blood, extension of new products, the valuation was cut, the bank debt collection, and the termination of hundreds of school enrollment school students, a large number of the original cool staff also have to leave.
'For the well-known reason of funding, music (financial chain crisis), the banks stopped lending of music and cool coupons, the only non-replenishment this year.' Former Cool CEO Liu Jiangfeng to promote cool from Including the 21st Century Business Herald and other media coverage, including described in 2017 'did not expect so difficult', said its own funds can maintain some products listed, in order not to fire camp, Cool is shrinking its domestic business, giving priority to the development of overseas.
Later Liu Jiangfeng sigh left, the current CEO Jiang Chao said in January, Cool future will be committed to overseas markets, the headquarters and R & D headquarters will gradually realize the localization of the United States, while China is mainly as a manufacturing base there.
After the securities regulatory department and the judiciary repeatedly urged Music to fulfill its obligations as a debtor, the family sold out the assets in January. LeTV cleared its cool shares through Leview Mobile HK Limited, a non-listed system, in January.
Concerned about the downstream
Can not come up with funds into research and development and production of new products, there is no 'suffocating' conference, can not hear the market response, which is drastic hand in the mobile phone industry, is undoubtedly a chronic suicide.
According to GFK data, the top five mobile phone sales volume in the domestic market in 2017 followed by Huawei, OPPO, vivo, apple and millet are also increasing their market shares to the top vendors, with the top five market shares exceeding 78% Cool did not enter the top ten.
Currently, the music as the official mall has no phone in the sale.At the same time, the music as the non-listed system of funding problems have not been fully solved.A music as a mobile advertising service provider in Heilongjiang January 24 21st Century Economic Reporter introduced just To music as Beijing headquarters reminders over arrears music as a total of 1.45 million owed mobile, has paid 20%, there are still 1.15 million unpaid.
Starting with LeTV in 2015, it started to have funding problems since August 2016. Previously, LeTV mainly communicated with Amu and received 7%, 10% and 3% of the total sales respectively between March and April 2017 Arrearage left, mainly with Le Mobile vice president of mobile music (the title has not been confirmed as music) Zhao contact, but never got the arrears. 'The supplier said the music as the recent cell phone system updates, perhaps every month There are some software revenue.
At present, some suppliers who are responsible for storefront construction and advertisement operation are urging clients to bid more and more large suppliers have chosen one-time bad debts provisioning.For example, when the mobile phone component maker Citic International announced the profit warning announcement in August 2017, Concerned about the music as Mobile Intelligent Information Technology (Beijing) Co., Ltd. owed a one-time full bad debt, a total of about 554 million Hong Kong dollars (about 471 million yuan.) In the same month, handset OEM Compal announced that In the second quarter of 2017, the total receivables related to the music group and the unrecoverable receivables of Lespot Group were recorded as a total loss of NT $ 2.9 billion (approximately RMB 639 million).
A communications industry source told reporters that LeTV hopes to divest the debt after the integration of the sale of mobile phone business, but it is difficult to find buyers. '' '' '' '' S current lack of trader Le music mobile, the middle strength to leave, coupled with the funding problem is not resolved, the industry But also in a white-hot competition phase, trying to comeback more difficult. "The aforementioned communications industry sources said.