Toshiba's Hisense era: To make up for a short battle

The 142-year-old Toshiba brand has changed its owner, and later Toshiba TV sets will become Hisense's sub-brands. On November 14, Hisense acquired the 95% stake in Toshiba Visual Solutions Corporation (TVS) for the “best event in China's color TV industry in 2017”, which almost exceeded the news that the sales volume of the Double Eleven TV was soaring. .

A worthwhile transaction, how does Hisense make it into a

Hisense News release shows that the acquisition includes a package of Toshiba image solution products, brands, and operation services, and includes Toshiba TV's 40-year global brand licensing. Among them, the product level involves almost all of Toshiba's "traditional display layout" such as color TV sets, commercial displays, and digital signage services; the technical level involves Japan's excellent R&D team of Toshiba Imaging, and accumulated technologies in TV picture quality, chips, and audio; In the market, Toshiba’s global use of display products and solutions for 40 years and Toshiba’s global channel partnerships for display products, as well as after-sales and technology update support services for Toshiba’s already-sold products.

"There are a lot of things to buy, not only the market but also the technology and the team." This is the first reaction the company has made to Hisense's acquisition. That is, this is not a mere expansion of market share, but eaten Toshiba's display industry chain.

However, this is not to say that the main reason for the cost-effective transaction. On the one hand, the transaction price was only 12.9 billion yen, or about 754 million yuan - much lower than the single-day sales of the Double 11 Hisense TV. On the other hand, Hisense has obtained 40 years of brand use rights - this framework reflects the long-term and continuous nature of the cooperation between the two parties. Prior to this, the duration of Sharp Trust’s Americas business was only five years. In early 2017, a series of disputes with Sharp’s new owner, the “Hon Hai”, also occurred.

Since this acquisition is a worthwhile transaction, it will inevitably lead to the attention of potential competitors. For example, as early as 2010, Toshiba established a joint venture company, Toshiba Video Products (China) Co., Ltd., with Huizhou TCL Electric Appliance Sales Co., Ltd., which will subordinate the production of TVs for the Chinese market to TCL. In May 2014, TCL acquired an additional 21% of Toshiba Video Products (China) Co., Ltd., which means that TCL’s shareholding ratio rose to 70%. And, in December 2015, Skyworth acquired Toshiba’s television and washing machine factory in Indonesia, and obtained the right to use Toshiba’s trademark for the sale, marketing and distribution of products including TV sets and its replacement parts in Southeast Asia and paid Toshiba accordingly. A certain royalty fee. In the spring of 2017, it was also reported that Turkey’s Vestel was interested in acquiring Toshiba’s television business...

In the face of such a situation, Toshiba will ultimately have full consideration of Hisense Hisense. Analysts believe that the transaction involves multiple complex factors and “purposes” such as the retention of Toshiba’s local team and technology, 40-year brand use, and the maintenance of the Toshiba’s employment in Japan. Therefore, Toshiba will certainly be more cautious and able to operate the partners of Toshiba Color TV's global business.

And Hisense, has been the first time in China's color TV market for 13 years of sales, in South Africa, the Australian market for many years to maintain the first row. In recent years, Hisense has speeded up its globalization and invested heavily in sports marketing and channel construction. It has squeezed Sony and other international giants, becoming a partner in the world's top sports events such as the 2018 World Cup. In the global color TV world, Hisense's product thinking is known as the technology flow, which is also in line with the traditional culture of “excellence” of Japanese companies.

More importantly, Hisense has become China's color TV brand global market "brand product" for the first time in a row, ranking the global brand color TV market top three position - if not Samsung and LG to operate the future of Toshiba color TV, then Hisense is obviously "The most powerful brand operator" among other brands.

The latter will be Toshiba's all-industry chain, which integrates 40 years of brand-use rights. The most important content is that Hisense is most likely to re-develop the Toshiba TV brand.

Zhuang Haixin International Market Map, Toshiba brings us

Hisense's acquisition of Toshiba has many benefits, including brand, technology, team, channels, industry chain, word of mouth influence and so on. However, these are just "using simple addition thinking" to see this key deal. Here, I would like to give some data to analyze the proceeds of Hisense's acquisition of Toshiba.

The first data is that in 2016, the brand TV companies in China, Hisense and TCL’s own brands, each shipped 13.3 million units and 13.2 million units—that is, the data Shanghai Credit Co., Ltd. only beat TCL. At the same time, Sony's brand shipments this year were 11.7 million units. According to statistics, Sony's TV sales rose by 30% in the first quarter of fiscal year 2017 (April-June). That is, considering that Samsung and LG have reached a scale of 47.9 million units and 28.2 million units respectively, the competition in the global brand market of 345 is not very different and extremely fierce. After gaining the Toshiba global market, Hisense added a “market entry point” and gained a direct share of the “third place” in the Japanese market. This change is a key increase in the firming of Hisense's global top three brand status.

The second data, according to the "Statistical Communique of the National Economy and Social Development 2016" released by the National Bureau of Statistics, shows that in 2016 China's color TV production reached 157.696 million units, an increase of 8.9% year-on-year. Among them, the production of LCD TVs was 1,5713.6 units, an increase of 9.2% over the previous year. In the same period, total global shipments of LCD TVs in 2016 were 219 million units, representing an annual growth of 1.6%. In other words, China produces almost 72% of the world's television sets, and this share is still expanding. However, the export of branded products is only 30% of the world's total - that is, more than half of Chinese TV products are "OEM processing." The weak brand results in a low “profitability” of the overall color TV industry chain in China.

"Big but not strong," which is a true portrayal of the Chinese color TV set. The biggest gap is the absence of brand added value. Before Hisense obtained the global use rights of the Toshiba brand, there were cases in which TCL took control of the Toshiba TV China market, TPV obtained the Philips domestic market, Changhong obtained the Sanyo domestic market, and Gome obtained the vanguard domestic market, etc. - but these cases mainly focused on In the domestic market, it is "less meaningful" to improve the global brand voice of the domestic color TV industry.

From this point of view, Hisense's inclusion in Toshiba's global market is just a supplement to the "shortcomings" of a Chinese color TV industry. This acquisition is also China's color TV, and even the home appliance industry. In the past ten years, more than a dozen of Japanese and Korean mergers and acquisitions, the only brand and technical team as the core, rather than the authority of the local market, the factory production capacity as the core of the merger.

“Acquisition of global brands This is a short patch for China's color TV industry; access to the Japanese team is really deep in the heart of the Japanese color TV and even the home appliance industry. These are not only unprecedented for Hisense, but also for the entire Chinese home appliance industry. It is 'opening a new era'. Hisense's color TV sales in overseas markets will account for more than half of sales in 2017. In such a crucial period, obtaining the Toshiba brand will also be a key booster for the future international development of Hisense.

Therefore, Hisense acquired Toshiba, although the amount is not large, only 100 million US dollars, but its significance is extraordinary. This is likely to be the world's color TV brand market, China's color TV industry, the right to speak once again "quality change" and upgrade the key "weight."

Hisense integrates Toshiba, and the technology flow must be more intimate

In the domestic color TV industry, Hisense's reputation is "technology flow." Among local color TV brands, Hisense is the first, and now is also independently designed "CPU" manufacturers; Hisense ULED products are the leader in color image quality in the global color TV market.

Toshiba, not to mention the representative of the previous DVD technology, HD-DVD technology audio and video standard leader, SED display technology, the main pioneer and other glorious history, even in 2017 Toshiba is the first Japanese color TV to enter the field of OLED leader One of them is Toshiba TV's long-standing tradition of developing its own core chip and color TV "CPU."

Thus, Hisense and Toshiba have a common language, and the integration of the two will inevitably depend on the "cultural resonance" of the technology flow. I believe that under Hisense's operating system, integrating the third largest global color TV industry chain capability, Toshiba TV will usher in a brand new moment: just like Toshiba's most famous slogan "Toshiba, Toshiba, Toshiba of the New Era". It is said that Toshiba TV and the global TV market are really entering a new era.

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