Metropolis: I Can Inherit Wealth

Chapter 39 : Follow Transsion to rule the world mobile phone market

August 27, 2018.

The first ray of sunshine rose on that day, and Jinli, once the largest mobile phone brand in China, was fully renamed Longteng.

On the same day, 11 wholly-owned enterprises including Jinli Technology, Guancheng Jinming, Guancheng Jinzhong, Guancheng Jinshang, Jingcheng Jinli, and Gangcheng Jinli were reorganized into the new Longteng Group.

What is unexpected is that in just one day, the Longteng Group has successively settled all the debts owed by Jinli in the past.

It also submitted to the Shenzhen City Intermediate People’s Court of Guangdong Province regarding the cancellation of the application for bankruptcy liquidation of Shenzhen City Jinli Communication Equipment Co., Ltd., with consent.

What is even more surprising is that Longteng Group laid off more than 5,000 people in the form of ‘N+1’, most of which were middle and high-level executives of the former Jinli Company.

In the following days, Longteng Group announced the sale of stock products at half price. As many as 70 million mobile phones were sold to Southeast Asia, Africa, and America, and a large amount of funds were returned.

It was also on this day that the newly appointed CEO of Longteng Group Jiang Feng and CFO Min Zhonghang appeared in front of the public.

As for Yu Lei, COO of Longteng Group, Zeng Xianglu, General Manager of Overseas Department, and Xu Li, General Manager of R&D Department, everyone knows them because they used to be the senior managers of Jinli Company.

…….

“Chairman, the inventory has been emptied. At present, Longteng Group still has 15 billion liquidity on its books.”

In the Longteng headquarters and the chairman’s office, Jiang Feng respectfully looked at the lazy young man sitting above him.

It was under Lin Feng’s instructions that in just a few days, Fengteng Investment transferred nearly 20 billion yuan to settle the debts owed by Jinli successively and appease the laid-off workers.

The current Longteng Group is like a new life body with radiant face.

“You did a good job!”

Taking a deep look at him, Lin Feng expressed a hint of appreciation.

Indeed, the ability to drastically clean up the high, middle and low management of Jinli, completely cut off the malignant tumor, and re-arranged the management personnel, so that the Longteng Group has returned to normal.

At this point, Longteng CEO Jiang Feng contributed a lot.

“Thank you for the praise from the chairman, but now that Longteng’s two major production bases and major industries under his command are all vacant, it is a bit too wasteful.”

Jiang Feng took a peek at Lin Feng and couldn’t help but tentatively said.

“I was prepared for this.”

Hearing that, Lin Feng did not fluctuate at all on his face, and said lightly: “Nirvana X exists to snatch the mid-to-high-end market from brands such as Apple, Warwick, and Rice.”

“However, in the low-end market, we cannot stand still.”

Jinli’s sales channels cover more than 40 countries and regions overseas, and it has successfully entered the operator system of 8 countries, most of which are developed by Tianchao.

Not everyone can afford mid-to-high-end mobile phones. Countries in regions such as South America, Africa, and Southeast Asia still focus on low-end mobile phones.

“Chairman, what do you mean?”

If Jiang Feng realized something, he still didn’t quite understand.

“Do you know Transsion?”

“You mean Transsion Technology, which has 40% of the African continent’s market share?”

Jiang Feng was stunned, and immediately asked.

However, Lin Feng did not answer his question. He just stood up and walked around the office, saying: “Transsion Technology was established in 2006 and it owns three mobile phones: TECNO, itel and Infinix. Brands represent the low, medium and high levels, and their sales volume in 16 years reached an astonishing 80 million.”

“TECNO, for mobile phones produced by Africans, takes into account the three functions of selfie, music, and four-card standby, but it has achieved things that big companies such as four-star and Sony can’t do.”

Speaking of this, Lin Feng couldn’t help but pause: “I hope Longteng can learn from Transsion Technology. Before Nirvana X comes out, first design low-end mobile phones suitable for Africa, South America, and Southeast Asia.”

“On the basis of consolidating Jinli’s original market share, we want to expand aggressively. We want the market occupied by others, and we also want the market not occupied by others.”

To be honest, TRANSSION’s mobile phone does not have much advantage in terms of hardware, and it is not even comparable to domestic second-tier brands such as Phantom and OPPO.

However, the most important reason why they are able to dominate the African mobile phone market is to prescribe the right medicine.

Not only mobile phone production, but also marketing programs.

It is precisely in these two aspects that Long Teng is not weaker than Transsion, and even faintly surpasses it.

There are four major research institutes in R&D, including 1,500 engineers from various countries, and Yu Lei, a master in marketing. Combining the two, you will surely be able to achieve great results.

This is also to lay the foundation in advance for the emergence of Nirvana X.

“Yes! I understand!”

Excited on his face, Jiang Feng hurriedly went down to arrange the next move of Longteng Group.