The same is the capital of merger giants "discard" manufacturing business, TCL and Lenovo's fate but so different: Li dongsheng 18 months up deficits of haoyan is now a hope, but Lenovo has seen the dawn of the profit.
Lenovo 60 days to produce a "report card"
10 August, Lenovo IBM PC business mergers and acquisitions in the first 100 days, Lenovo's first production of our own "report card". Merged the new Lenovo announced in 2005/06 fiscal first quarter results show that as of June 30, the first-quarter turnover achieved Lenovo 196 million, net profit of nearly 3.6, compared with last year's turnover 58.78 billion net profit 3.368 billion, including former Lenovo Group itself three months results, as well as from 1 may, within two months since the acquisition of business performance. This is the Lenovo acquired IBM Global PC business, for the first time in the business of quarterly financial reports.
To this end, the Lenovo CFO Mary Ma pointed out that, although in this quarter, the original IBM PC business income includes only two months, but in a short period of 60 days, the business has been up, "this is mainly from the us to continually introduce innovative products, continuously improve the cost competitiveness. ”
Since the acquisition of IBM's PC business, in addition to profitability, in mergers and acquisitions in the first quarter, Lenovo and the original IBM PC integration how, this is a concern. To this end, the new Lenovo CEO Stephen said that integration can be said to be "had left the beginning", sales have on global consolidation, so also in China, by the end of the year is completely finished. To help those rumors on the loss of customers, new Lenovo CEO Stephen at the press conference that the IBM PC's biggest 400 customers since the consolidation has been increased by 5 per cent.
Lenovo on the expressed satisfaction with the new fiscal year report card. Lenovo Group Chairman Yang yuanqing, 2004/05 fiscal year on Lenovo significance. During this period, the group focused on the development PC core business strategy proved to be effective, through product line layout adjustment, succeeded in seizing the high incremental potential towns and laptop market development opportunities. Lenovo also through customer-oriented sales model, providing customers with better service. At the same time, the Association successfully completed on IBM global business and historic acquisition, and related integration process.
Yang yuanqing, said the new Lenovo results on the one hand, benefit from the management team in customer retention, employee retention, stability operations, and so do a lot of work, but also prove that the Lenovo acquisition of mind is entirely correct and achievable. Passed away from IBM high-cost operation platform, through the integration of greater efficiency, more large-scale implementation of procurement collaborative advantage, Lenovo will be able to get a healthy, sustainable growth of the business model.
It is noted that the new Association in this field of business consolidation will continue. Now Lenovo is only 18 sectors in eight departments, the next step will further consolidate the supply chain and product lines, including China's sales and services that deliver a complete, unified business and complete team to achieve greater efficiency and competitiveness.
Very different circumstances of internationalization
Lenovo in IBM PC business mergers and acquisitions of two months after start up, the people had to play the same attention to capital operates to internationalize TCL. In continuous merging two France's TV business enterprises Thomson and Alcatel's mobile phone business, TCL Group Chairman Li dongsheng was flame so far to claim that, 18 months into the black. However, the 18-month time limit has passed half part navisystem TTE and TAMP remains difficult to see the prospects for profits.
TCL and Lenovo, through mergers and acquisitions go abroad, at this point, they have a very strong contrast, but may be in specific operational details, but there are many differences. Lenovo CFO Mary Ma pointed out that the acquisition of IBM's PC business unit, not only brings the "management and synergies", but also for Lenovo's development provides a larger arena and market opportunities. But the merger with Thomson TV business and Alcatel mobile phone business of TCL, is currently facing a severe test.
Lenovo is in such a short time, loss of years of IBM personal computer business profit, due to the consolidation of scale, and proven PC marketing mode. Two months, only joint procurement synergies of reached nearly 10 million. Data displayed in the first quarter of the world, Lenovo PC sales reached 351.9 million units, representing an increase of 7 per cent, compared with the previous quarter increased 14 per cent.
New management team in achieving stable growth and promote the business integration of both basic realization of the merger of the envisaged for the end of a successful consolidation and mergers and acquisitions has laid a good foundation. Lenovo has completed the establishment of the global headquarters functions, global resources and synergies of play have given performance brings a positive influence.
By contrast, lack of integration is the TCL yet most critical losses. Li dongsheng have about 18 months, always make people feel less at ease. When talking about their losses, including Li dongsheng, TCL and TTE and TAMP most upper mentioned is reducing costs through economies of scale, control costs and consolidation in the global procurement of TTE, development, production and marketing system, to achieve synergies, eventually the TTE achieve low-cost high-speed expansion goals. However today, sustained losses of TTE and TAMP the situation have not been changed, TCL has always believed in a consolidation phase of "synergy" has yet to play.
Faced with the challenge admit frankly, Li dongsheng, announced that 18 months you can reverse the loss of TTE and TAMP, it seems that this timetable is postponed to the next. In fact
Due to the lack of conformity, TTE and TAMP has not been able to achieve expected synergies will not be able to quickly fusion of their culture, to form a unified culture for unified management to manage defects exist. Li dongsheng laments: "our original team somewhat optimistic, in November of last year found that the issue is very large, consolidation effect does not play, or proceed fundamental customary, TCL is out of control state. ”Of course, some industry analysts believe that today's globalization is the internationalization of the consumers and not the product of internationalization. Lenovo IBM merger and obtained after merely "IBM Think Pad" and "," the two brands, it's harvest is IBM years produce global consumers. Although the TCL by merging with a Thomson and Alcatel-Lucent in brand right to use, but it is undeniable, "Thomson" or "RCA" is already a growing its brand.
In addition to financial data, the ugly, "Thomson in LCD technology research and development of judgment", "devaluation of the RCA brand in North America," and "joint venture with Alcatel mobile phones a radical" in the negotiations, such as a series of issues affecting more far-reaching consolidation also gradually emerge after the start. Looking ahead, it seems that the TCL overseas and mergers not optimistic.
Internationalization needs to find its own way
Lenovo's success does not explain the Association's future development in this success, no doubt, the road of Lenovo internationalization also only just beginning, and their mode of formation to a large extent due to the IT industry highly open features as well as the global it industry is rapidly evolving as a result, cannot be the full replication of other industries.
TCL problem suffered by or injury Chinese enterprises the confidence of internationalization, after all, through mergers and acquisitions further big enterprises and internationalization into multinational companies such a road, on Chinese enterprises an opportunity. How to embark on a unique way of development of transnational enterprises, need a "Chinese entrepreneurs as a great talent", but more needs to be a series of reflections.
As the United States largest management consulting company Bain management consulting firms in the global mergers and acquisitions Director Sam · Jovite pointed out that, regardless of whether they are multinational companies in China or Chinese enterprises, they're looking for a growth point, mergers and acquisitions for them is a very useful tool, but, again, and mergers and acquisitions is not an alternative strategy. Enterprises must be able to develop their own strategies, such as the target customer is what, where, and so on the market. In his view, the key issue is that many enterprises do not want to clear himself to the merger of the companies keep their enterprises to become more powerful. The best result is achieved by mergers and acquisitions to strengthen the competitiveness of enterprises.
With multinational corporations more manufacturing and part of the research and development business into China, domestic enterprises rely on cheap labour cost advantage of eroding in core technologies, management capacity, financial strength, economies of scale in inferiority has become increasingly obvious. In this scenario, the Chinese enterprises if limited in the country, the single market is not sufficient to support their further grow up, it is difficult to further fight transnational enterprises. How, through the effective integration and configuration of comparative advantage in China into a single enterprise competitive advantages, this is the real rise of the Chinese enterprises.
It can be said that most Chinese enterprises lack is the core competitiveness. Technology can be bought, but research and development capabilities to buy; management can bring, but unable to introduce the core competitive ability; talent can attract, but the concept cannot be formed. Beidaguanghuaguanlixueyuan Zhang weiying, Professor of the core competitiveness of graphically compared to: "stealing away, not to, without dismantling, going back, sliding off", no matter how clever means there, no matter how good opportunity there, no matter what kind of external resource utilization, in a competitive market environment to establish their own unique core competence it can not be tricky, enterprises need to settle down and start to kick the impetuous, is thriving.
Faced with the reality of the internationalization of competition, the challenge is the inevitable choice. However, with multinational companies in the world of strong brands, compared to almost all of brand China are weak brand. How to take small Boda, the weak defeating, requires careful planning of the strategy. As for different industries, different product what should adopt more specific, more personalized internationalization strategy, the company's own requirements tailor-made strategic design and planning, Chinese enterprises not only according to the history and find out for yourself.
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