He also had to think about how to put it, since he was too embarrassed to talk about such an embarrassing situation. He couldn't very well say that the two major international companies had failed in their siege of the Thai market.
At the same time, Vera had to report the situation to headquarters and was scolded. Sato, president of Toshiba's overseas business division, was different from Watanabe.
"It's just a small Chinese company. With so many advantages, you've managed to turn it into this mess. It's simply foolish!" Sato said in a deep voice.
Sato is younger than Watanabe, only in his forties, and has been in charge of the overseas business division for three years. He is in his prime and, in addition, Toshiba is in a period of rapid global development, making him more ambitious than Watanabe.
"Yes, I underestimated them a bit. But if we continue like this, it will ruin the market. We are not on the same level as Guangming Electronics, and we can't use other means. We report them and investigate, but they don't pay any attention to us. And some idle people in society..." Vera explained the situation in detail.
After hearing this, Sato first punished Vera by deducting all her bonuses and placing her on probation. He said that whether to end the siege of Guangming Electronics would be decided at tomorrow's meeting.
Watanabe called Eisen and briefly explained the situation. He said that Goldman Sachs was just dealing with Kelly and hadn't touched any core interests.
Eisen was also slightly surprised to hear this news. How come Lu Feng wasn't killed in the Thai market?
"Okay, I understand. I will report this matter. Thank you for your hard work. It must be getting late for you. Please get some rest." Eisen said politely.
"Okay, thank you for your help."
Watanabe hung up the phone. From Eisen's tone, he could tell that this was just a perfunctory job, and the other party obviously didn't take it seriously. He secretly breathed a sigh of relief, thinking he could just get away with it.
When a large brand enters a market and crushes a newly established small brand, it is inherently difficult to suppress it. The most common approach is to directly shut it down or compensate it through legal means, causing the other party to go bankrupt.
The next morning, Watanabe Shi held a meeting as soon as he arrived at the company. He dismissed the head of the Thai branch and appointed a new president from outside the company. He was not allowed to immediately cancel the promotional activities, but he needed to withdraw the huge promotional offers. He also said that the marketing budget should be increased in the future to improve the brand image.
After Sato reported the matter to the higher-ups, the higher-ups relayed it to Merrill Lynch. Merrill Lynch didn't take the matter seriously, simply saying that it was enough that it had been done, and nothing else mattered; they just needed to express their stance to Kelly.
Sato's face was not good in the conference room. Although the higher-ups did not say anything, he felt that he had lost face. Being played like this by a small company was a disgrace.
"We are competitors with Motorola, but we are also brothers. Just because they can't do it well doesn't mean we can't. To survive in the global business world, we have to do what our competitors can't do well. That's how we have a future!"
Sato addressed the crowd with a serious expression: "Since headquarters has already spent 30 million, I don't mind spending another 30 million. The overseas business division's revenue this year is quite good. To crush that small company, we only need one department."
"President Sato is right. We can't let this go. If word gets out, anyone can ride roughshod over us."
“That’s right, and I think it’s a human factor. Vera, the president of the Thai branch, was seriously negligent. If it were someone else, they could have worn him down.”
"Even if we can't kill him by directly suppressing him, we can certainly wear him down!"
Everyone chimed in, their words dripping with flattery. Sato's performance this year was excellent, and the department had accumulated a considerable amount of funds that could be used for overseas investment. Yet, he insisted on playing tricks on Lu Feng.
In the morning, as the stores opened, Motorola and Toshiba stopped offering discounts, which angered many scalpers who had been queuing up overnight, leading to some pushing and shoving. However, scalpers who had stockpiled goods yesterday were able to sell them today.
Lu Feng woke up a little late. While eating breakfast, he listened to the market situation today. Zha Tai had been dismissed and someone would soon take over his job. Motorola had backed down.
"They came on strong, but it was all bark and no bite," Kevin said, putting down his chopsticks. "With two companies pulling this stunt, most people would have been terrified, but you're the only one who's not scared!"
"It's not over yet. I really didn't expect Watanabe to back down, but I also didn't expect Toshiba to back down." Lu Feng leaned back in his chair and asked, "Didn't Vera say anything about the situation?"
"Their company has stated publicly that they will continue to invest 30 million US dollars, and Vera has been disciplined and may be fired. In a phone interview, Vera said that they may have to keep at it with us for a year or two, spending 30 million US dollars to buy their services," Kevin's assistant said from the side.
"Knowing we're short on funds and can't afford to waste time, they still insist on dragging things out with us. What a good dog! Even Watanabe Shi would give them a thumbs up." Lu Feng breathed a sigh of relief; this really hit him where it hurt.
If Vera and Zate had understood this, they wouldn't be in this predicament now.
“Mr. Lu, the overall situation has eased now. I’ll stay. Why don’t you go back first? We should announce our success in the Thai market now and secure financing as soon as possible!” Kevin suggested.
"A little time won't make a difference. Crushing Toshiba isn't a big problem!" Lu Feng muttered to himself.
What?
The assistants next to them were dumbfounded. Crushing Toshiba wasn't a big deal?
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