Recently, 'Whirlpool' frequently appeared in the Chinese home appliance hot search list, the reason, one reason is that Whirlpool-led US appliance manufacturers to the US International Trade Commission (ITC) petitioned the ruling Samsung, LG large household exports to the United States Washing machines exist dumping behavior; First, Whirlpool China's continued shock in 2017, staged financial counterfeiting, multiple coaching senior game.
As the world's first white-white brand in recent years, 'Whirlpool' aura in the fading.White white businesses, from 2017, China's Haier, the United States, Gree revenue have surpassed the US Whirlpool, the United States, let alone In the world market more popular Samsung, LG, Panasonic and other Japanese and South Korean integrated enterprise.
Mixed four seasons
In the US stock market, Whirlpool has been a 'favorite' for investors, but its recent performance is not satisfactory.
Earlier, Whirlpool Group announced its fourth quarter results for 2017, saying the company's revenue was higher than expected, but its sales were lower than expected after Whirlpool's earnings forecast has suffered a "five-game losing streak" with sales of three consecutive Of course, this is not unrelated to the broader environment of the US home appliance market, the US home appliance industry fell 21.7% the first three months of the Whirlpool Fourth Quarterly Posting.Unlimited by the unfavorable combination of product prices and raw materials, Whirlpool 2017 In the third quarter of the year, operating profit in the second quarter and the first quarter narrowed by 100 basis points, 150 basis points and 90 basis points respectively, and its guidance price per share was also adjusted from the previous 14.50-15.00 U.S. dollars to 13.60-13.90 U.S. dollars.
Whirlpool fourth quarter revenue of 5.72 billion US dollars, an increase of 1% over the previous year.But, considering the currency neutral (that is, excluding currency changes), the actual sales fell 1.6 %.In addition, Whirlpool operating profit in the fourth quarter of 2017 year on year Fell 9% to 392 million US dollars, operating margin narrowed 70 basis points to 6.9%.
Analysts believe that 'in the quarter, its unit output declined, raw material prices completely offset the favorable cost of productivity, rising product prices and the benefits of reorganization.'
It is reported that the fourth quarter of 2017, Whirlpool North America basically the same as last year's business with sales of 3.1 billion US dollars, on a currency neutral basis, down 0.8%. As in the region, Whirlpool realized price increases, partial easing The negative impact of rising raw materials, operating profit rose 5.4% to 368 million US dollars.
Outside of its base camp, Whirlpool International contributes more than half of its revenue to the group, while increased risk from global markets and strong competition from Asian appliance manufacturers are undermining the vested interests of Whirlpool.
In the sub-region, Whirlpool's Latin America revenue increased by 5.2% YoY in 4Q10 to US $ 905 million, a real increase of 4.4%, excluding exchange rate effects. Revenues from Europe, the Middle East and Africa increased 1.5% to US $ 1.4bn while considering Monetary neutral, the actual decline of 5.6%, adjusted operating profit of 400 million, while last year adjusted operating profit of 45 million US dollars; while in Asia, its revenue from 352 million U.S. dollars last year fell 5.4% to US $ 333 million, excluding currency impact, down 8.3% YoY. At the same time, the region recorded a profit of US $ 19 million in the same quarter a year earlier to an operating loss of US $ 1 million - a decline in unit output and a rise in raw material prices were considered the markets in the region Decline in the culprit.
Hide in the government surrounded by asylum
Whirlpool appears to be more attributing unfair competition to competitors because of its disappointing market performance. In January, the ITC passed a resolution that dumping should be considered on the large home-use washing machines exported to the United States by companies such as Samsung and LG, As a result, they will face a four-year, up to 52.5% tariff sanctions.
While foreign manufacturers expressed their regret, the Washington Post also commented that 'the government is protecting the interests of a small number of home appliance companies at the expense of punishing the majority of U.S. consumers.'
The newspaper said: 'The government feels that too many people choose to buy foreign washing machines not because their products are better. In fact, the government is squandering its own prestige through such events; Whirlpool's performance proves a bit better at manipulating Washington Instead of making a washing machine.
Commenting on the history, the newspaper's commentator said history: "When Whirlpool paid $ 1.7bn for Maytag, its biggest rival, in 2006, the federal regulator feared it would give Whirlpool too much market power at the time, Whirlpool said." Do not be scared, The competition from foreign players such as South Korea's Samsung and LG will keep us ahead and ultimately benefit consumers. "But now, Whirlpool, bored with competition, has convinced ITC to rule its rivals."
In fact, the US washing machine market has grown 35% in the past five years, Whirlpool's share of the U.S. market, although less than 70% in 2006, surpassed 35% Samsung and LG together. It has always been profitable, but with the stick of 'tariff quota', its profit appropriation is obviously more fluid. '
In 2016, the United States imported about three million Samsung and LG washing machine products.
'Henry Ford used to go so far as to say that no matter if you want a T-car of any color, I only offer black, and it is through more color choices that GM seized the Ford blockbuster. Now, buyers of washing machines have had to Buy standard 'white models', but in the end 'various colors' of imported goods will still seize this market.
'The more intense the competition is, the more Whirlpool will become the crying child in the arms of the government.' "Soon after Samsung set up its LG plant in Tennessee in South Carolina, how will Whirlpool take care of itself? Newspaper "asked.
Flop a chance
Whilst the Washington Post's critique is sharp enough, Whirlpool is a whirlwind boutique that has its own uniqueness in the white goods market, with a strong product line, a solid foundation for innovation and cost control. At the same time that the four quarterly reports are published, the Whirlpool Group also outlined its long-term goal of 2020 to 3% to 5% annual revenue growth, 'through the combination of product and brand strength, consumer demand, reasonable price adjustments and management The release of passion will help us to tap more sales and market share and increase pretax profit margin by more than 10% by 2020.
As for the Chinese market, we noticed that in the Whirlpool Global Version website, 'D' brand has been listed under the Whirlpool global brand matrix, but neither "Rongshida" nor "Sanyo" , Whirlpool China will pay more attention to the operation of Whirlpool and Emperor degree two brands, and weakening the existence of more controversial Sanyo, Rongshida product line, do a good job of unified brand image of the forerunner to facilitate more 'Chess Road' .