从全国第1到为小米代工：“中国彩电大王”没落了吗？

Core Viewpoint - The recent revelation that Xiaomi air conditioners are produced by Sichuan Changhong has sparked widespread discussion, highlighting Changhong's role as a manufacturer for Xiaomi and raising questions about the company's current market position and historical significance [2][3]. Group 1: Changhong's Historical Context - Changhong, once a leading player in the Chinese television market, has seen a significant decline, dropping out of the top four brands in the industry [3][10]. - The company originated from a military background, transitioning to consumer electronics in 1972, focusing on television production due to rising market demand and its technological capabilities [5][6]. - By the mid-1990s, Changhong became the largest television manufacturer in China, achieving a market share of 35% and being recognized as the "King of Color TVs" [8][10]. Group 2: Market Performance and Current Standing - According to a report by Omdia, in 2024, the global television market is expected to reach 208 million units, with brands like Hisense, TCL, and Xiaomi leading the market, while Changhong's presence has diminished significantly [10][11]. - In the Chinese television market, Hisense leads with a shipment of 8 million units (22.5% market share), followed by Xiaomi with 7.1 million units (19.9% market share), while Changhong, along with other brands, accounts for only 495,000 units (13.8% market share) [11][10]. - Changhong's market capitalization has also declined, currently valued at 46 billion, which is significantly lower than its peak of 650 billion in 1998 [10][11]. Group 3: Reasons for Decline - Changhong's decline is attributed to critical technological missteps, particularly its investment in plasma technology, which resulted in over 2 billion in losses, while the liquid crystal television market surged [22][23][24]. - The company also faced commercial failures, including overexpansion and mismanagement of resources, leading to significant inventory issues and financial losses [25][29][37]. - The geographical disadvantage of being located in a third-tier city has hindered Changhong's ability to compete effectively with brands based in major urban centers [41][42]. Group 4: Current Business Diversification - Despite its struggles in the television market, Changhong has diversified its operations, reporting a production of approximately 16.54 million units in 2024, with a revenue of 16.037 billion, reflecting a year-on-year growth of 10.27% [45][47]. - The company has expanded into various sectors, including smart home technology, digital industries, and green energy, positioning itself as a technology group rather than just a consumer electronics manufacturer [45][48]. - Changhong's subsidiaries have achieved significant success in specialized markets, such as being the largest supplier of refrigerator compressors and a key player in lithium battery systems for high-speed magnetic levitation trains [50][52].