Chapter 1164 The Worrying Kumho

Mou Cunzhu left Hanxing Bank, Park Jinchang had this intention when he stayed at the hotel in Jinchang Samsung Electronics or which other company will rush to buy Hyundai Semiconductor's LCD business ahead of Kumho, but the core assets of Hyundai Semiconductor's LCD business are Samsung Electronics' third-generation thin-film LCD production lines that have recently shrunk production capacity. It is not of much value to Samsung Electronics, and even has to pay for a small package. It is impossible for Samsung Electronics to pay 400 million U.S. dollars or more to attack Kumho, not to mention that even if Samsung Electronics chooses to do so, it cannot completely block Jinho. Hu's Road to Entering the LCD Electronics Industry The chapters of the novel are updated the fastest

A total of 18 electronic companies in the world have advanced thin-film liquid crystal technology. Because advanced thin-film liquid crystal is a high-tech and capital-intensive industry, and because the market for thin-film liquid crystals has not really opened up, few companies have achieved a stable scale. Profitability Samsung's business in this area has also lost money for seven consecutive years and only slightly improved last year

On the other hand, in the flat-screen TV market, plasma still has certain technical advantages compared with LCD. It is too early to draw a conclusion at this time for the two display electronics technologies. In the face of such intensive high-capital investment, the competition for technology and capital is so fierce. In the end, there are only five or six LCD manufacturers that can truly achieve large-scale profits. Eighteen are indeed a bit too many. "Novel" novel chapters are updated the fastest

In this case, as long as Kumho can come up with a high enough bargaining chip, there will definitely be other electronics companies willing to hand over the LCD business.

Sitting in Muli, Li Zaimo squeezed his brows with a headache and thought to himself: At this time, what we need to do is to delay Kumho's entry into the thin-film LCD industry as much as possible, and let Kumho pay more for entering the thin-film LCD industry. The cost of compressing Kumho's competitive potential

Although Samsung Electronics has been losing money in thin-film liquid crystals for seven consecutive years, taking advantage of the sharp depreciation of the Korean won in the Asian financial crisis in 1997, which was beneficial to exports, Samsung Electronics has risen to the first place in the global LCD market and achieved profits last year.

In the disc player, digital mobile phone and portable music player market, Samsung Electronics has fully appreciated Kumho's majestic competitive potential once it bursts out. In Li Zaimo's view, every time Kumho enters a new field, especially with Samsung. Fields of competition call for extreme caution

Jin Nanyong was sitting in the co-pilot seat, his cell phone rang at this moment, he picked it up to look at it, turned around and told Li Zaimo that Hongxin Yan Wenjie was calling, and the worker in the co-pilot seat picked up the phone after a while Covering the microphone, he turned back and said to Li Zaimo:

Yan Wenjie also asked in Beijing if it was convenient to meet

Li Zaimo shook his head slightly, and Jin Nanyong said to the phone: I'm really sorry, Li Zaimo's schedule in Beijing is full, but I will find a chance to meet after returning to Jianzhao. Seeing Jin Nanyong hung up the phone, Li Zaimo told him. Explain the reason for not meeting with Yan Wenjie and others: Even if Horizon can succeed in Haisu Technology, it is completely unqualified to compete with Kumho. Although I didn’t have any extravagant expectations for Horizon, I thought that Horizon could at least contain Jinho a little bit in China. Who would have thought that they would be so mentally handicapped? Now that we have such a large-scale industry, it is really disappointing that we still can't find a suitable partner for the balance between industrial investment and securities speculation...

Even so, Samsung Hongxin's project will continue, and Hongxin needs to be perfunctory, Jin Nanyong said.

That is only perfunctory, Li Zaimo said indifferently, but we must hold the control of the Samsung Grand Chip project tightly in our hands, and don't be dragged down by stupid partners...

Jin Nanyong nodded and sat up straight

Li Zaimo leaned on the soft back of the chair, silently recalling Kumho's rise in recent years, feeling like a strong man dragging his wrists, and regretting that Samsung had a chance to strangle Kumho to death in the cradle

As one of the earliest disc player manufacturers in the world, Samsung launched a disc player in China as early as the end of 1994 and quickly replaced Wanyan, which almost broke the disc player market at that time.

It was also at that time that Samsung China Company was too eager, perhaps too underestimated the market potential of the c-mount disc player as a transitional product, and did not invest too much technical force at that time, so that Samsung's disc player products frequently had quality problems in 1995. In order to maintain Samsung's reputation Brand goodwill was forced to withdraw from the disc player market, but Chuhu promptly adopted the latest audio decoding technology at that time to fill the gap left by Samsung’s withdrawal and became the overlord of the disc player market.

The d-disk player was originally a transitional technology before the launch of the dd-disc player, and the technical threshold for entry was very low. There was a problem of excessive competition.

Who would have thought that Kumho would cooperate with Texas High Pai to upgrade the d-disc player technology and exhibit a new generation of cd-disc player technology? Although the CD player is still inferior in technology, Kumho has developed various CD industries since 1997, making use of various advantageous channels such as the production and marketing of the player, and even the industrial chain of pirated discs. When it was too late, the entire industry was being upgraded at lightning speed. At least until more advanced technologies were popularized, Li Zaimo could not see the possibility of being replaced in the CD player market, except for CD players in emerging countries and regions. Every year, the global sales volume of mutual d reaches 28 million units, and the sales volume reaches 40 billion. Aida Electronics, an industrial company under Kumho, directly controls Li Shao's disc player market share. In addition, Li Zaimo knows that Kumho also has overseas sales. In the name of the company, Texas Instruments also controls the supply of CD decoding chips just now. The joint venture factory between Aida Electronics and Texas Instruments also controls the core movement of CDs. Became one of the eight largest bar manufacturers in the world

Some of Kumho's layouts in the disk player industry are directly in the name of Aida Electronics, and some are in the name of other joint ventures and wholly-owned companies. However, in the eyes of the public, Aida Electronics still concentrates the main resources of Kumho's flagship ship industry.

Although the competition in the disc player market is quite fierce, the net profit of Aida Electronics last year still reached as much as 1.2 billion Hong Kong dollars

In May 1997, Aida Electronics had a market value of tens of billions of Hong Kong dollars when it was backdoored. Affected by the Asian financial crisis, its market value once fell below five billion Hong Kong dollars. However, it has been stimulated by the new economic wave in the past two years. Electronic market value once exceeded 38 billion Hong Kong dollars

Of course, even if the market value of Aida Electronics breaks through 38 billion Hong Kong dollars, the price-earnings ratio is still less than 32 times, which is far lower than the average price-earnings ratio of 46 times for the new technology sector of the United Securities Market at that time. This is mainly because Kumho is sticking to the holdings The responsibility of major shareholders has actively suppressed the excessive rise in stock prices, and thus is disliked by speculators. Although this time it is also destined to be affected by the Internet bubble crisis, Aida Electronics has a stable profitability in terms of industrial layout and cost advantages. And the price-earnings ratio itself is not too high, I believe that the market value of Aida Electronics will not fall too deep

In this regard, Kumho has always shown a completely different attitude and integrity from Horizon. Kumho has always tried its best to resist the ups and downs of the stock prices of its listed companies. It has never thought of manipulating the stock prices of its industrial companies to make profits. The strict supervision of Hong Kong's stock exchange market has a lot to do with it, but Kumho doesn't bother manipulating stock prices. The most direct example of this low-level means of making money is that Kumho has never made its subsidiaries public in the Chinese stock market. Gongshi's efforts

Li Zaimo has already deeply realized that Kumho is a group with a very different temperament from other Chinese companies. People's general perception of Chinese companies is especially important before, not to mention that this company is bigger than ordinary people imagined. much stronger

In 1998, Kumho launched the portable music player Shushu, which is similar to a porta In North America, Europe, and even in the domestic market of Japan, the sales volume of Livi has continued to rise. With the upgrading of flash memory technology, the high-end storage capacity has reached the high-end storage capacity. The low-end storage is easy to store. It even has a strong impact on the portable music player of the cassette. Kumho launched a low-end Jiacan product in the Chinese market this spring with a price of about 120 US dollars and began to compete with Sony for the portable music player in China. The high end of the music player market

Between d-india and d-technology, Samsung Electronics also chose to switch to the d-A camp very early on. Its sales volume only ranks fourth after Kumho Toshiba, but its market share is not as high as Kumho. One-third of Kumho's share in the global portable music market is even higher than that of Toshiba, even if some of the technology comes from Kumho. This is also a result that no one expected at the beginning.

After a closer look, Global Music Online, which aims to build an online music store, and the half-year infringement lawsuit with the Recording Industry Association of America in 1999, Commander Kumho soared in the portable music player market

At the beginning of the year, it was predicted that the momentum has already been quite obvious. Kumho’s cumulative total sales volume this year is likely to exceed 5 million pieces. It is expected that Kumho’s global net profit in the Jiacan product industry will exceed 400 million US dollars, and it is even more likely to break through next year. $600 million

Since the two core member companies of Kumho, Aida Group and both are private companies, there is no need to disclose financial data to the outside world. In addition, Kumho uses many leafy and intricate companies in its system to undertake the business between different links. If it is not for Samsung The internal production and organization model is similar to that of Kumho, but at the same time, it also pays attention to certain markets. Otherwise, it is impossible to estimate the profit scale of Kumho's small dish products.

Kumho also obtained a complete authorization of non-volatile flash memory patents from Toshiba through technology exchange, thus competing with Samsung and Toshiba in the non-volatile flash memory market. Before the advent of Acan, the application range of flash memory was relatively wide, but the demand was extremely high. The sales of some products have directly promoted the development of the non-volatile flash memory market. The total market demand this year is expected to be close to three billion US dollars.

Kumho, Samsung, and Toshiba will still have an equal share of the 3 billion US dollar market. Of course, Li Zaimo is clearly aware of how amazing Kumho's profit margins in non-volatile flash memory are, at least not as high as Samsung's. lower profit margins

Perhaps Kumho's total profit in the small business is not necessarily lower than that of the mobile phone business, but what has attracted public attention is Kumho's domestic mobile phone business, Aida Mobile, which ranked second to Motorola in the Chinese market last year with its market share. Comparing with Nokia and Samsung, the market share in the Chinese market ranks sixth in the Chinese market. In the past six months, that is, in the first half of the year, Kumho has sold 4 million mobile phones in the Chinese market, surpassing the Chinese market share. It has increased by a point and Samsung has worked hard for half a year to increase its market share... It seems that no matter what field the performance of core products that are not popular is always difficult to improve

In addition to the Chinese domestic market, Kumho ranks fifth in the Southeast Asian mobile phone market, and Samsung ranks fourth; it is difficult for external mobile phone companies to enter the Japanese market. Kumho and Samsung are no exception; All have quite good results, especially Kumho's mobile phone sales in North America have gradually improved since last year.

Since Kumho's electronics industry is a high-margin industry category, and Kumho has dispersed its electronics industry among several member companies, Kumho's annual profit in the electronics industry is relatively amazing, but its sales are far below the global level. There is still some distance between the top 500 standards. Of course, if all the businesses under Kumho are included, it should have been ranked among the top 500 in the world long ago.

How can such Kumho eyes aiming at the LCD industry make people not worry?