In 2017, China's color TV market continued to be sluggish, and overall sales fell significantly. According to Zhong Yikang's statistical data, the total retail sales of omni-channels from January to July 2017 was 25.6 million units, down 11.5% year-on-year; among them, the overall sales of Internet TV brand online dropped by 6.9% year-on-year. In the past two years, the Internet TV brands that had been making great strides in the past two years have experienced bottlenecks in development this year.
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In the overall downturn of the industry, millet TVs went against the trend and sales surged. According to data from Yikang, the online sales of Xiaomi TV soared by 91.2% year-on-year in 2017.
The growth rate ranks first in the Internet TV brand, and Xiaomi TV has produced a brilliant report card. What exactly did the Xiaomi TV overtaking?
The author believes that there are three reasons: Xiaomi TV technology quality exceeds peers and supply chain management capability is strong; implementation of "high with medium price" boutique strategy, strong marketing to seize the market; Internet TV industry reshuffle, millet TV to fill other brands of market vacancies .
Process quality exceeds peers and supply chain management is powerful
The product's process quality and reliability level is one of the important indicators to measure the quality of color TV products. However, the products that the index does not cover are destined to be eliminated by the market.
Millet TV's craftsmanship is superb, rolling other Internet brands. Taking this year’s flagship product, Xiaomi TV 4 as an example, the industry’s first split design, metal wire drawing process, and the creation of an ultra-thin body with a 4.9mm profile, and the introduction of the Dolby Sound System for the first time. Millet TV4 won a series of awards, including the German Red Dot Award, which is known as the "International Oscar for Industrial Design".
The same is the Internet brand television, some brands of 4.9mm ultra-thin models will have a lot less, some products from the side, the fuselage deformation, crooked, basic workmanship is not qualified.
Where did such a strong contrast come from? The reason for this is the gap between different brands in terms of independent innovation capabilities and supply chain management capabilities.
To enable smooth commercial production of new products, Internet TV brands such as Xiaomi, Leshi, and Microwhale must first do the following: Purchasing upstream LCD panels, chips, and other raw materials, screening, monitoring, and industrial design of foundries. , technology research and development, and so on.
To be a TV hardware, we must have a strong supply chain integration and control capabilities in order to control the final product quality level.
Millet TV integrates South Korea's Samsung and LG's upstream panel procurement resources, Taiwanese companies' OEM production resources, and closely follows product details to improve product quality. For example, Xiaomi TV 4 adopted a custom Samsung/LG LCD panel, and the designers went to the first-line production line to closely follow the product quality and increase the yield from the initial 1/10 to 90%. In the details of the product, the power plug to the TV is fully involved by the designer.
According to Wang Chuan, co-founder of millet and head of Xiaomi TV, in order to enable mass production of Xiaomi TV 4, Xiaomi's team visited suppliers and sought ways to increase the yield; Xiaomi engineers went to the production line and there were 3 engineers. Month did not come home.
The purpose of supply chain management is to manage the relationship with upstream suppliers and downstream customers, and provide superior value for the final market with a lower overall cost of the supply chain. For Internet TV brands that do not have their own factories, supply chain management capabilities are extremely important. Millet TV's process quality level surpasses its peers, embodying the strong supply chain integration and control capabilities of Xiaomi TV. It is also the result of Xiaomi’s harsh details.
Implementing the "high-medium-price" quality strategy, strong marketing to seize the market
"Affordable" is a goal that many Internet TV brands have been pursuing. However, many brands have neglected the quality and configuration of products while paying attention to low prices.
Xiaomi TV is different from other Internet TV brands and adheres to the product concept of “being the best TV for everyone to buyâ€. This "high-end configuration, mid-range price" boutique strategy, making Xiaomi TV has a high cost performance. For example, although Xiaomi TV 4 is a high-end flagship model, it still adheres to this position.
From the configuration point of view, millet TV 4 uses Samsung and LG original 4K screen, equipped with "Patch Wall puzzle wall" artificial intelligence system, 65-inch version is the first time in the industry to introduce Dolby Sound System. With such a high allocation standard, the prices of its products are relatively modest so that young consumers can afford them.
At the same time, Xiaomi TV took the opportunity to aggressively market and seize the market at key nodes. For example, in this year’s May 1st and 618th big promotion, Xiaomi’s TV sales have led the way and won a big victory. On August 23th, on the Xiaomi TV brand day, Xiaomi TV 4A, Xiaomi TV 4 and Xiaomi TV 3S have various models. In battle, the maximum can be reduced by 1,200 yuan, but also buy the specified model TV also sent "Spider-man: Hero Returns" Limited Edition custom M rabbit, enjoy the millet phase 3/6/12 interest-free, send too shared bike member card, etc. Numerous benefits.
With the same product configuration and the same model, Xiaomi TV vigorously promotes price promotions and gives benefits, enabling consumers to purchase better products at more favorable prices.
This kind of behavior that really benefits the consumers has laid a foundation for Xiaomi TV and won more fans. It is also such a strong marketing that enables Xiaomi TV to grab more market share at a faster pace and gain a bigger slice in the Internet TV market.
The Internet TV industry shuffles and millet TV fills up market vacancies for other brands
The “cake†in the color TV market is so big that it is not easy to capture more market resources and occupy more market share. The strong rise of Xiaomi TV has a deep connection with the changes in the competition pattern of Internet TV brands.
In the past year, the price of LCD panels in the upstream market has soared. The production cost of TVs has risen significantly. The Internet TV industry has been shuffled and some brands have encountered "troublesome events."
For example, LeTV and other Internet TV brands have experienced financial shortages and insufficient stamina. The continuing hardware losses have led to negative revenues, adversely affecting their development, and causing sales to decline significantly.
According to the data from China Excel, the overall online sales of Internet TV brands in January to July 2017 decreased by 6.9% year-on-year, of which, LeTV recorded a 55.5% year-on-year drop in sales, and Coolopen's online sales decreased by 47.1% year-on-year. In contrast, Xiaomi's TV line sales increased by 91.2% year-on-year, and microwhale TV online sales also increased by 22.3%.
At the same time, according to AVC online monitoring data, Xiaomi (L49M5-AZ) accounted for 20% of the sales of the 49-inch color TV best-selling model (public e-commerce channel) in the second quarter of 2017. Ranked first; TCL (D49A620U) accounted for 13% of sales, ranking second; Hisense (LED49EC520UA), Changhong (49U3C), and CoolOpen (KX49) accounted for 8%, 8%, and 6% sales respectively. Ranked third, fourth, and fifth.
In the 55-inch TV best-selling model ranking (public e-commerce channel) in the second quarter of 2017, Xiaomi (L55M5-AZ) topped the list with 7% sales volume, and Hisense (LED55EC520UA) ranked second; LeTV (super-) 4 X55), TCL (D55A620U) and Changhong (55U3C) ranked third, fourth and fifth with 4%, 3% and 3%, respectively.
In other words, millet TVs are among the best-selling 49-inch and 55-inch models in the market.
In the case of a decline in the overall share of Internet TV, Xiaomi TV sales and market share are still rising. This means that the expansion of Xiaomi TV's market share is to some extent fill the vacancy caused by falling market share of brands such as LeTV.
With excellent craftsmanship and high cost performance, Xiaomi TV is ahead of its peers in this round of reshuffling in the Internet TV industry, achieving a curve overtaking. This success of Xiaomi TV provided a model for other Internet TV brands. Only by taking products as the core and persisting in the mutual benefit with consumers, can the TV industry upgrade in an invincible position.
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