This morning, a piece of news sparked public debate within the small appliance industry. Desheng Electric Appliances and Dejin Electric Appliances simultaneously released a statement expressing their hope to establish industry standards in response to the current chaos in the small appliance industry, including inconsistent quality and harm to consumers.
These two companies are leading manufacturers of small household appliances such as radios and cassette players!
Changhong and Panda also released the same initiative today, but the industry standards of the initiative published in the newspaper are different. They hope to use their own technical standards as the threshold, on the grounds that as the industry continues to develop, raising the threshold too high all at once will easily kill off a large number of companies.
It takes time for an industry to recover from its current state of disorder, and it also takes time for companies to accumulate technological expertise.
Interestingly, Desheng and Dejin advocated for standards based on their own technologies, aiming to stifle other companies or to classify electrical appliances in the industry. Once the industry is certified by the state and classified, their market position will be difficult to shake in the short term.
Changhong and Panda, on the other hand, are trying to block Jiafeng Electronics from entering the market.
Suddenly, the small appliance industry became incredibly competitive. Everyone realized that this sector would be the next battleground for major manufacturers, especially with the entry of disruptive company Jiafeng Electronics, who knows what kind of chaos it would create.
Rumors were flying everywhere, Jiafeng Electronics' business unit was busy, Liu Cheng's desk was piled with newspapers, and the phone rang non-stop all morning.
When Lu Feng arrived at the company building, he saw that no one was there to greet him, so he went upstairs alone. When the receptionist saw Lu Feng arrive, she hurriedly called Liu Cheng.
"No need, I'll go by myself!"
After Lu Feng finished speaking, he headed towards Liu Cheng's office. He pushed open the office door and saw five or six senior executives sitting across from his desk, with Liu Cheng on the phone.
"So you mean that Desheng and Dejin see us as potential competitors? Our products haven't even been released yet. Besides, as the leading companies in China, why would they be afraid of us? The technological gap is huge!"
"Okay, thanks. I'll treat you to a meal sometime."
After exchanging a few polite words, Liu Cheng hung up the phone. He looked up and saw Lu Feng had arrived. He quickly stood up and said, "Mr. Lu, when did you arrive?"
"It's been a few minutes, what happened?" Lu Feng asked, seeing that everyone looked like something had happened.
"Take a look at the newspaper!" Liu Cheng handed the newspapers on the table to Lu Feng, some of which were faxed over.
Lu Feng's expression turned grim after reading the newspaper; it was truly a case of misfortune never coming singly!
"The government won't agree to this kind of initiative, but it's clear that everyone is eager to try. Tecsun and Dejin are industry leaders, right?" Lu Feng put the newspaper on the table and asked, "I remember the marketing department gave me a survey report. In the overall domestic radio market, the two companies have a market share of up to 45%, and their market share for products such as tape recorders, stereos, and walkie-talkies is also very high."
"Moreover, both of these companies have the same CEO, surnamed Chen. I heard from some rumors that they have already listed us as a potential competitor, which is why this happened in the newspapers." Liu Cheng was very worried.
Those present were somewhat flustered. If it were a foreign brand, such as Sony or Sharp, they would not be afraid because of the huge technological gap and the clear division of consumer groups in the end market.
With tariffs in place, it's clear that the other side can't win a price war.
However, the aggressive moves of these two companies have really put Jiafeng Electronics under pressure. Most importantly, everyone can see that Changhong and Panda seem to be helping them out.
This is equivalent to a child not even being born yet, and already being eyed by world-class boxers, while several national-level athletes are also watching closely.
This proposal could very well cause Jiafeng Electronics' small appliance plan to be completely aborted.
Seeing that everyone's mood wasn't very high, Lu Feng smiled and said, "What's the rush? I've just finished some work and have some good news to tell you."
Good news?
Liu Cheng smiled and pressed for more information: "What good news?"
"The team that went to Hong Kong to seek funding failed," Lu Feng said calmly.
Is this what you call good news?
Everyone present felt a sudden darkness before their eyes and almost collapsed to the ground. Liu Cheng grabbed the table, took a deep breath, and recovered.
"Look, compared to this, this is nothing, right?" Lu Feng grinned and pointed to the newspaper.
It's really not a big deal anymore. Not to mention the small appliance project, even Weipuda might go under. Liu Cheng couldn't understand why Lu Feng could still laugh at this time.
"Mr. Lu, you're joking with me, right?" Liu Cheng asked.
"No, I wasn't planning to tell you, but seeing how you reacted to such a small thing, I thought I'd give you a little push. You need to be able to handle things and not think that a peaceful life is the norm. This is my style of starting a business. The company is always on the verge of bankruptcy, and that's the path I chose."
Lu Feng looked around and said, "Prepare the meeting room. I'll fly to Hong Kong tomorrow to handle this. Today, I mainly want to explain the reorganization of the R&D company and the direction of product development."
"Okay!" Liu Cheng turned to the person next to him and prepared to give the order.
Lu Feng noticed the worry still on the faces of several executives. He was familiar with this state; these people were probably already secretly thinking about finding another job after the New Year.
"Let me add one more thing: every company has its own culture and spirit. Some companies are about unity and hard work, some are about harmony, and some are about fierce competition. Our company can be summed up in two words: 'fight to the death.' Mr. Liu asked me to put these two words in the company, right at the entrance, and write a sentence on them."
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