OFweek smart home network news: At the moment, music as the core of the hardware - the production of television is being questioned in the industry. There are even reports that due to shortage of funds, LeTV’s foundry partners have reduced from three to one.
Recently, the "Securities Daily" reporter went to Le TPV's foundry in Qingdao for in-depth visits and investigations. Qingdao TPV Factory is responsible for LeTV's R&D, manufacturing, and assembly of the whole machine. At the production site, the reporter saw that on the assembly line, workers were assembling and testing LeTV.
A person in charge of TPV told reporters: “At present TPV is responsible for almost half of LeTV’s shipments. For TV R&D work, LeTV and TPV are all participating at the same time. There is no one who has more dominance and right to speak, any new product. When it comes out, it needs constant discussion and testing."
As for the cooperation mode and payment method of the two parties, he revealed that the foundry’s order system was adopted for LeTV. "LesVision will predict sales in the new year based on market conditions, and the factory will conduct mass production based on LeSonic's phased orders provided after market expectations and judgments. However, LeTV often falls short of expectations and exceeds expectations during the period of factory procurement. It takes time and cycle, so let the outside world have an impression that LeTV is out of stock. The payment method adopted by LeTV is a monthly settlement and payment is made within 60 days. There has been no arrears at present.â€
Five core foundries
Recently, the rumor that LeTV’s foundries reduced from one to three companies attracted the industry.
Facing reporters' questions, Wang Dayong, senior vice president of LeSung smart terminal supply chain, responded by saying: “At present, LeTV has five foundries: TPV, Foxconn, Yichang, TCL, and Zhongqiang, which are currently being supplied for LeTV. At the same time, LeTV's partners have never expressed dissatisfaction with LeTV, and they have no intention of abandoning LeTV. TPV is LeTV's largest foundry, with shipments accounting for nearly 50% of LeTV's sales, including only Qingdao TPV. The OEMs accounted for 70% of TTV's TV shipments for LeTV."
The reporter called Foxconn, TCL and many other manufacturers to inquire whether the cooperation with LeTV in television production had been lifted. The person in charge of the other party said: "At present, no notice has been received."
Cao Gang, general manager of TPV, stated: “TPV is the longest and most cooperative partner of LeTV. It has been in cooperation for nearly 4 years. The TPV factory in Qingdao is the most important LeTV production base in the TPV Group. Letv TV shipments. Last year in January TPV production LeTV TV has more than 300 million units, now TPV Qingdao company shipments can reach 20,000 units per day super TV."
In fact, for LeTV, which is about to usher in an important holiday 414, it seems unrealistic to cut factories now. 414 is music as their own E-commerce Festival, seeing 414 is coming, how can LeTV easily reduce shipments?
LeTV has just announced its sales target in 2017: “To protect 7 million units and strive to reach 8 million units†From the sales target for 2017, LeTV will at least stabilize the relationship with the existing OEMs. According to the reporter's interview with TPV, the supply of Qingdao Topview plant to LeTV has been increasing since this year.
“In order to complete the 8 million targets, LeTV also needs to appropriately expand its production capacity. In the future, LeTV will not rule out the introduction of more partners and cooperation in large-scale areas. According to LeTV’s plan, large-screen TVs will be the next step. Focus on the period of 414. Super TV total shipments from 750,000 to 800,000 units, in order to ensure the availability of cash, the current major manufacturers are stepping up shipments.†Wang Dayong said.
The relevant person in charge of Qingdao TPV said: “At present, the size of the TVs provided by TPV in Qingdao is mainly the mainstream size, and LeTV’s large-size TVs are under the responsibility of other manufacturers. TPV also has expansion plans in the large-size area.â€
It is understood that when LeTV first put forward its "big screen ecosystem", it was indeed a 100-inch or larger TV as part of its product chain.
Out of stock and delays have always existed?
Rumor has it that rumors on LeTV’s behalf have been reduced to a large extent because LeTV’s new payment was not timely. For both parties' payment methods, a top TPV official disclosed that the current payment methods of TPV and LeTV are paid within 60 days of the monthly payment. After LeTV provides an order, TPV will supply LeTV with it, and LeTV will reconcile it after each month. Payment within days. “In general, TPV will provide payment terms according to customer credit conditions, ranging from 30 days, 45 days, and 60 days. LeTV never owes any money, so the payment time is 60 days.â€
The reporter learned that TPV’s factory has independent purchasing rights for accessories, but it will negotiate with LeTV in terms of purchase volume to ensure cost control. This is the reason why LeTV is out of stock when it sells hot.
“At present, raw material prices are highly influenced by the market, and prices often fluctuate. If you do not purchase raw materials in accordance with the order volume provided by LeTV, then many purchases will form a capital occupation. If the purchase is insufficient, sales volume exceeds expectations. At the same time, the shortage of raw materials will cause shortage of goods. When the price of raw materials rises, the manufacturers will also be in a passive state. However, LeTV has always been in an unexpected state, so LeTV has always had less inventory." A TPV internal staff According to the reporter, "Lokshi did indeed rush the goods on TV, mainly because of the surge in orders, and the procurement of raw materials took time. However, this is not a lot."
Although TPV is LeTV's largest foundry, TPV's deputy general manager Ye Chunhua told reporters that unlike traditional foundries, TPV's cooperation with LeTV includes TV's R&D, manufacturing, etc., and Qingdao TPV's automation and intelligence in the production line. The transformation and transformation of information and information technology have opened up production lines for LeTV. "At present, TPV's production capacity can meet LeTV's demand, but if LeTV expands its production capacity, it will cost $10 million to re-open the mold, requiring cycle and capital."
LeTV pays homage to new money
However, LeTV’s funds are tight and it is not a secret in the industry. LeTV did indeed face a long period of time due to the fact that the front line has been drawn longer, and there have been serious financial problems in mobile phones, automobiles and other industries, but it is not television.
A LeTV executive disclosed to reporters that LeTV did have a problem with the capital chain for mobile phones, and that mobile phones had problems with suppliers’ arrears, which are currently being solved. However, as LeTV and TV suppliers are two groups of people, it does not matter. LeTV is in normal operation. "The production of mobile phone products and the relationship between LeTV and its suppliers are all recovering. This will not affect the release of LeTV's new mobile phones."
The reporter learned that LeTV is currently in a deep state of adjustment, including televisions and mobile phones.
Related LeTV person in charge revealed: "The next LeTV, mobile phone adjustment is to achieve profitability, LeTV last year, as the cost of TV raw materials, LeTV's prices have risen twice, it can also be seen LeTV's TV pricing strategy Adjustments, then LeTV will try to ease the pressure of negative interest pricing on companies, and at the same time make reasonable pricing above operating costs.â€
Actually, LeTV’s new fear is that LeTV will not be short of money in the entire system. In recent months, LeTV has received several new rounds of financing. In early January of this year, Sunac China injects LeTV with a total of 15 billion yuan in funds, of which LeTV is allocated a new 7.95 billion yuan, accounting for 53% of the total; In addition, LeTV has obtained a new revenue of 1.38 billion yuan for Lehran and China Life Insurance. Financing; Recently, LeTV made a new decision to increase capital and expand shares, and Truly Electronics will invest another 720 million yuan.
A LeTV-to-new investor told reporters: “LTV will communicate with us from time to time, letting us have a full understanding of LeTV’s supply chain, capital chain and other issues. We will also visit the foundry of LeTV as we go from time to time. During the inspection, there are no signs of tension in LeTV’s current view of funding, but LeTV also faces some problems in mobile phones and other areas.â€