Retrospection: The Logic Behind The Crazy Chinese Smartphone Market In 2015
摘要： What happened in the Chinese smartphone market in 2015? How many categories can Chinese smartphone makers be classified into? Which ones are going to stand out in 2016?
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The year 2015 can be called the craziest year in the history of Chinese smartphone industry. During this year, Huawei surpassed Xiaomi and became the number one smartphone maker in China, two smartphone brands Meizu and Qiku rose to become the game changer, while VIVO and OPPO, based both in Dongguan, did a great job in 2015. Different smartphone makers holding different values, different beliefs and of different business scale and quality, exhibit to the fullest the Chinese business world what full competition really means. In this article, Zhang Si, the leading commentator of Business Value magazine, is going to share with readers his insights on the “crazy” development of the Chinese smartphone industry in 2015.
“Excuse me, sir, but could you please turn off your phone?”
“Turning on my smartphone won’t have any impact on the airplane. I work in a smartphone company, and I know it.”
Conversations of this kind occurred oftentimes between passengers from smartphone companies and airline stewardess on the airplanes from Beijing to Shenzhen. These people are willing to turn off their smartphones even on airplanes, these people travelled frequently from Beijing to Shenzhen in order to strike a balance between the market and the manufacturing sector, and these people might look a little bit insane in 2015.
When Meizu released 6 smartphone models on its new product release conference, invited 12 guests to warm up its press release conference, and had its shipment volume doubled (20 million), it was referred to as a “concert” company by many people, jokingly.
When Huawei set the price of Huawei Mate S, the second smartphone model after the fad towards Huawei Mate 7, at over 4000 RMB, is Huawei going to fast?
When Lei Jun, the founder of Xiaomi and the so-called “Chinese Steve Jobs” didn’t turn in the flagship model Xiaomi5, will Xiaomi repeat the path of VANKE?
Are Chinese smartphone brands all going insane?
Of course not, since if we put their moves into the context of the year 2015 and take into considerations the conditions of these smartphone makers themselves, we might find the logic underneath and realize that their moves are quite rational and understandable.
The global smartphone market is inevitably shrinking. According to IDC, the growth rate of the shipment volume of smartphones dropped to 9.8%, the first single-digit growth rate in recent years. Under this circumstance, smartphone makers are suffering a great deal. Fierce competition ensues.
In China, however, things are a little bit tricky. Although the winter has come for the Chinese smartphone makers, risks go hand in hand with opportunities.
On the one hand, Fuchang Electronics, the number one supplier of several Chinese smartphone makers, went bankrupt. In the past, a smartphone brand could survive as long as it kept up with the trend; nowadays, however, those small-sized smartphone makers are simply driven out of the market due to their lack of competitiveness.
Major Chinese smartphone went crazy, because they didn’t want to be driven out of the market, and because they wanted to seize every opportunity.
For example, since 2014, Samsung has failed to re-grab the high-end Chinese smartphone market (where the average price of smartphones is higher than 2,500 RMB), which creates a great opportunity for Chinese smartphone brands. In addition, the trend to replace old smartphones with new ones is gradually taking the place of the trend to spread smartphones to every corner of the Chinese life.
In this case, those who grabbed the high-end smartphone market will dominate the market during the next-round competition circle.
The competition between Huawei and Xiaomi
Change is only too common in the business world. When we are still commemorating those time-honored stores and advocating craftsmanship, it turns out that there isn’t a single case in the smartphone industry where a smartphone maker persists for decades. This industry changes so swiftly, and every player in the industry has to deal with all kinds of issues when developing new products, which means that “the god of sushi” is less likely to emerge than “the god of smartphone”.
However, huge potentials are out there owing to the complicated situations. For example, there is one person who is confident enough to lead his team and make their brand stand out in the competition. “Our goal has always been to become the first,” said he. There is no such word as the “second” in his dictionary, but only the “first”.
You might already have guessed who I am talking about. Yep, he is Yu Chengdong, president of Huawei Mobile Business Group. In the middle of 2015, Huawei has already uplifted its annual revenue goal from 16 billion USD to 20 billion USD and its annual shipment volume to over 100 million. While Xiaomi set a similar goal at the beginning of 2015, Huawei went a step early and achieved such goal. The most amazing thing is that Huawei sold 7 million Huawei Mate 7 and successfully grabbed the 3,000 RMB smartphone market.
Xiaomi has attempted to march into the high-end smartphone market in 2015 by releasing Mi Note Standard Version and Advanced Version, which are priced at 2,299 RMB and 3,299 RMB respectively. However, the market seemed not to accept Xiaomi’s at all, whether it’s Standard Version, Bamboo Version, Female Version, Advance Version, Advanced and Across-Carrier version, etc. However, to increase sales, Xiaomi returned to the mid-end market (around 2,000 RMB) and lowered the price of Mi Note Standard Version to 1,799, and of Advanced and Across-Carrier Version to 2,599. Xiaomi itself must be uncertain when it will lift the price again.
Whether Xiaomi admits it or not, it certainly lags behind Huawei in the high-end smartphone mrket. For Mr. Yu Chengdong, the real competition lies in the mid-end market between Huawei Honor Series and Xiaomi, as can be seen in the swift battle between them during last year’s Double 11 online shopping festival.
When releasing the sales figure, Alibaba’s Tmall deliberately made it vague to not annoy either of them: Xiaomi ranked the first in terms of sales volume but the third in terms of sales. Throughout the shopping festival, Xiaomi, whose average purchase price was 718 RMB, sold around 1.03 million smartphones and achieved a sales of 1.2 billion RMB in total while 740 million RMB in smartphone sector. In comparison, Huawei ranked the first in terms of sales of Huawei Honor series but the second in terms of sales volume. It sold 937,200 Honor series smartphones, achieved a total sales of 1.123 billion RMB and enjoyed an average purchase price of 1,200 RMB.
Provided that there were no fake order, these figures could really mean something. Although they are both Internet companies, the average purchase price of Huawei Honor series is 482 RMB (almost the price of a RedMi 2A) higher than that of Xiaomi’s. Both Huawei and Xiaomi are eager to become the number one smartphone maker in the Chinese smartphone market, yet nobody can tell which company is the real number one when different leaderboards and rankings adopt different sets of methodologies. In this case, Tmall’s statistics could seem really important.
According to Tmall’s statistics, although Xiaomi managed to catch up and stay in the first place, it is, indeed, at a disadvantage.
Today, Mr. Yu is confident enough, and even proud to talk about Huawei’s sales and potentials. He would also talk about such things in the past, but everybody believed that I was talking big. Actually, he was even a little bit angry when he recalled this.
Mr. Yu felt most pressured in 2013, when Xiaomi was just established three years, its shipment volume exceeded to 18.7 million, an increase of 160% year-on-year, its sales also reached increased by 150% to 31.6 billion RMB, the total number of MIUI’s users hit 30 million, and Xiaomi shared a dividend of 12 million RMB with its third-party developers. In addition, Xiaomi earned another 1 billion RMB from its sideline products, and it sold 500,000 MiRabbit Smart Watches that year. Lei Jun, the founder of Xiaomi, made a miracle out of Xiaomi not only in the smartphone market, but also in the Internet market.
It is inappropriate, or not enough, to say that Xiaomi replaced Lenovo and became one of the four major Chinese smartphone makers along with ZTE, Huawei and Coolpad. At that time, Xiao best made use of the huge dividend by its 1,999RMB smartphone model. For users who can’t afford an iPhone or s Samsung but who are not willing to use mobile carriers’ smartphones, Xiaomi’s smartphone seems to be the best substitute with a high quality-and-price ratio. Mr. Yu Chengdong, however, was having a tough time then and suffering from a trust crisis.
Huawei started as a smartphone manufacturer, and is naturally linked with mobile carriers. Yet, Huawei’s leading board, especially Mr. Yu himself, tried everything he could to get rid of this predestined path and develop a flagship series, as can be seen in a piece of Weibo he posted then:
“On the first day of Paris Exhibition, I took some time and go around to see Samsung, LG, DoCoMo’s terminal exhibition. I was shocked since I found that we lacked far behind them in terms of popular smartphone models. Things shouldn’t have been like this.”
This piece of Weibo was sent when Mr. Yu attended the Paris Exhibition in 2011. After he was appointed as CEO of Huawei Terminal Business in 2011, Huawei soon released two smartphone models, P1 and D1 in the beginning of 2012, and started to march on a path of high-end flagship smartphone models. Although these two models weren’t that successful, Mr. Yu wasn’t willing to give up. A year later, Huawei released D2 smartphone model. Although this new model was successful in terms of technologies and designs, it was too expensive for most consumers (3,999 RMB).
Later, when mobile carriers shifted their cooperation models with smartphone makers, which should have been a nightmare for them, Mr. Yu was okay with that and vowed to pay more attention on developing and manufacturing flagship smartphone models. It turned out that he was right and Huawei was the most successful one that transformed its operation and business model.
Although Huawei didn’t release P1 and P2 in mainland China, it kept the series and continued to release P6, P7 and P8, which achieved a sales of 4 million within half a year, later on. If Huawei’s Flagship P series, featuring a special design and a thin body, is a star among Huawei’s high-end smartphone models, then Huawei Mate series, commonly used by business people, must be a new star.
Huawei started to develop the big-screen Mate Series as early as 2013, and saw the huge potential in the big-screen smartphone market. Regardless of the competition from Samsung Note and HTC One Max, Huawei Mate2, the G2 product of Huawei, used to widely received for a time.
In 2014, when its flagship series failed to make much breakthrough, Mr. Yu also felt most pressured. When Xiaomi made a miracle by selling 30 billion smartphones within three years, rumor had it that Mr. Yu might resign.
Yet, every dog has its day, let alone for Huawei’s delicate, refined high-end products.
Coincidence also had a fair role in this sudden change.
When Huawei released Mate 7, with a big screen, long standby time, metal body, touch screen, and HiSilicon’s chips, it met all the needs of the wealthy crowd and was finally accepted by the high-end market.
Coincidentally, Samsung didn’t release any new big-screen models then, Huawei grasped a good timing and thrived. Today, the era when those who best made use of demographic dividend would succeed has passed, the Chinese smartphone market has entered an upgrade and update stage when high-end smartphone models will be more welcome. Statistics suggest that the expected price of an average Chinese consumer has exceeded 2,500 RMB.
It is no longer useful to stand out with a low price, but if Xiaomi lifted the price of its models, does it have an adequate amount of technologies to support a high price? If Xiaomi continued to set the price at around 1,999, can it win a large crowd of consumers? When Xiaomi’s rivals have all caught up, when RedMi was the most popular smartphone models of Xiaomi, can Xiaomi stand out today?
This is why Lei Jun slowed down the pace and delayed its pace in releasing Xiaomi 6 and delivered a moving speech to explain why he made such decision. He knew it clearly that high quality-price ratio is not enough today for Xiaomi to succeed, and he desperately needs something else.
At the same time, can Mr. Yu’s Huawei continue to prosper? It is still too early to say that Huawei is the number Chinese smartphone maker, as can be seen in the failure of Mate S, priced at over 4,000 RMB. Mr. Yu explained that they set such price after a discussion with other leading officers in Central China region and would return to the 3,000 RMB market when releasing Mate 8.
Although we still can’t say for sure which one will finally stand out, Huawei seems to gain the upper hand at least in 2015, in terms of the high-end market and its Honor series. However, if Huawei fails to keep a good pace and strike a good balance, it is possible that it is going to take higher risks in the future than Xiaomi.
Mr. Yu once predicted that Internet companies loved encouraging employees with huge bonus. It turned out he was speaking the truth. On December 10th, 2015, Zhou Hongwei, the founder and CEO of Qiku, announced via internal emails that it would launch a share–incentive program. In the first stage, the company would share 60% share of Qiku with its employees, but keep the rest 40% to award employees who have done a great job in the future.
Making smartphones can be extremely exhausted a job sometimes. To give incentive to employees, such program can be the best approach. Mr. Zhou thought so, as did Huang Zhang, the founder of Meizu.
Not only Huawei and Xiaomi competed to survive in the Chinese smartphone market in 2015, another two smartphone makers, Meziu and Qiku, also attempted to stand firm in the market by developing really fast.
All of a sudden, Mr. Huang seemed to realize this problem in 2014. Shortly after the Spring Festival, he went back to the company, sought for the permission from his investors and announced that he would put aside 20% share of the company to launch the Employee Share Owning Program (ESOP). Both he and Mr. Yu Chengdong must have been annoyed by Xiaomi’s fast development in 2013.
Mr. Huang, knows as a craftsman of smartphones, preferred to stay at home instead of sitting in his giant office in the company. However, Xiaomi’s rapid development helped him realize that craftsmanship was not enough in the smartphone industry. Nobody knew exactly what happened around the Spring Festival in 2014, yet my guess is that might have something to do with Mr. Huang’s sense of imbalance.
After looking through his speech for several times, I found that he repeated again and again the following sentence fragment: as long as others appreciate what we are doing, that’s okay. What did he mean exactly by “others”? Consumers, or investors? Mr. Huang seemed to have realized that locking oneself in a house and burying oneself in making smartphones were not enough to win recognition from the market.
After Mr. Zhang delivered this speech, Meizu changed a great deal: the average salary of Meizu doubled, the total number of its employees rose from 700 to 1,500, and the total shipment volume also increased from 2 million to 5 million. “It’s impossible to be small and beautiful at the same time,” Bai Yongxiang, the president of Meizu, frankly admitted.
Seeing the bankruptcy of Fuchang Electronics, many people predicted that the winter had come for the Chinese smartphone industry. Yet, the entire supply chain is going to shrink along with the upstream manufacturers. Those small-sized suppliers might follow the step of Fuchang Electronics if they fail to meet the needs of the upstream manufacturers. After all, when metals have already been widely used to make smartphones priced at around 1,000 RMB, how could suppliers such as Fuchang Electronics which are specialized mainly in rubber model making, 3C manufacturing and wooden plastic product to survive? Gradually, the Mathew Effect will dominate the Chinese smartphone industry, and those stronger ones will become even stronger, while those at a disadvantage will be driven out of the market.
Meizu shifted its business model exactly due to the above judgment.
In January, 2015, Mr. Huang agreed with Jack Ma’s offer and accepted a strategic investment of 650 million USD from Alibaba. Whatever Alibaba asked Meizu for return, Meizu’s development roared: it released 6 new smartphone models within a year, its shipment volume quadrupled, and its employees also soared to 4,000. Although we still don’t know if Meizu can adapt to such rapid development, it can stand still at least until the next round of competition.
Meizu managed to strike a good balance between brand, design, user experience, service and channel, so it not only achieved an overall shipment volume of 20 million, but also established 2,000 flagship stores, 30,000 retailing outlets, 300 after-sale service centers and carried out door-to-door quick fix service.
If Meizu’s shipment volume were to double again in 2016, it would make another miracle within three years. However, Meizu seemed not plan to do so, since it has already been quite safe after this round of competition.
On the contrary, Meizu is going to slow down. Its goal in 2016 is to achieve a shipment volume of 25 million and make some breakthrough in the high-end market. Li Nan, the vice president of Meizu, didn’t believe that a smartphone maker can prosper when it only sells smartphones of extremely low price.
If Meizu made a miracle by rising rapidly, then Qiku’s miracle is to rise from rags to riches. The smartphone brand was co-established by Coolpad and Qihoo 360 near the end of 2014, and its first model was released near the end of August, 2015. During last year’s Double 11 shopping festival, Qiku ranked the fifth in terms of both sales and shipment volume.
Zhou Hongwei, CEO of Qihoo 360, have been eager to enter the smartphone manufacturing industry for a long time, and he seized the golden opportunity to ally with Coolpad and established Qiku. Yet, it turned out that he paid a great deal for such decision.
Nobody is more enthusiastic in smartphone making than Mr. Zhou Hongwei. During the second World Internet Conference Wuzhen Summit, Mr. Zhou tried his best to take selfies with other CEOs, including Tim Cook, Ma Huateng, etc. only to promote Qiku’s smartphones to Chinese consumers. However, he seemed not to be bold enough to take a selfie with his fellow countryman and the founder of his biggest competitor, Lei Jun, who happened to be born also in Xiantao, Hubei province.
Different from Lei Jun, Mr. Zhou Hongwei has nothing to fear. That’s why he dared to take selfies with every people around and often made jokes on Qiku’s smartphones, almost forcing smartphone engineers of Qiku to expedite the process to improve the performance.
As a late entrant, Qiku has got to do something different.
Mr. Zhou started with cutting all the unnecessary pre-installed apps. Although Qiku might not be able to benefit by pre-installing apps, its smartphone models are very quick and energy-efficient.
As a game changer, Qiku also attempts to “meddle” with the high-end smartphone market. During a launch event of Qiku, Mr. Zhou suggested that developers, designers, product managers were all target users of Qiku’s smartphones.
While Coolpad’s Dazen series are sold primarily at the price of 1,000 RMB, Qiku smartphone models are mostly priced at over 2,000 RMB. In the near future, Qiku is going to release two new smartphone models, internally referred to as Big Q and Small Q respectively, both of which are priced at over 2,000 RMB.
Meizu and Qiku are like two madmen, since they never follow the common practice. You can never expect at what speed they will develop in the future. It is likely that Huawei, Qiku, Xiaomi, Meizu will become the four major play in the Chinese smartphone market in 2016.
When Meizu and Qiku were trying to expand themselves, there were no limit to how crazy they could be. However, when they have already stood firm in the market, they have become pretty smart and cautious in every new move.
Now that both of them are very clear about what they are going to achieve, what is left for them to do is get prepared to get into a hard fight. By the way, when it comes to give incentive to employees, Huawei’s founder Ren Zhengfei, and vice president Yu Chengdong serve as two excellent examples, since both of them volunteered to share most shares of the company with their employees and generous enough to award those who have done a great job.
On the Step By Step Avenue in remote Dongguan located two smartphone manufacturers, VIVO and OPPO. You may not be able to sense the fierce competition here, but you can never ignore these two smartphone manufacturers, two of the most miraculous forces in the Chinese smartphone industry.
Their success seems to be owing to what is the outright opposite of the Internet thinking. VIVO and OPPO, based on Duan Yongping’s Bubugao Group, are commonly referred to as the two most profit-making Chinese smartphone makers. Mr. Duan does things in a completely different manner: while every other smartphone maker is busy developing new smartphone models in 2015, they kept a slow pace and managed to keep calm and rational amid the crazy Chinese smartphone market.
For example, after releasing X5 Pro in the first half of 2015, VIVO didn’t release a new model (X6) until the end of the year. Although VIVO didn’t release lots of new smartphone models, its annual shipment volume didn’t decline, nevertheless. As a matter of fact, it is expected that VIVO might have sold over 40 million smartphones in 2015. VIVO was even listed as the number one smartphone maker in a report released in October, 2015.
Shen Wei, the founder and CEO of VIVO, is an unfamiliar fame even for journalists. As a typical businessmen of South China, he managed to keep a low profile and can be pretty stubborn sometimes. According to him, he only did two things throughout his life: making telephones and smartphones.
Concepts such as listing, estimated market value, ecosystem, all have nothing to do with Shen Wei. “We don’t have any plan to list on the stock market, and there is no need for us to launch a round of financing since we are not lacking in money, and we are not planning to expand too much. In addition, the smartphone industry is fundamentally a manufacturing industry, so we don’t have to take risks and integrate the supply chain. Most people failed because they failed to maintain a steady capital chain, but we will never be left in such a situation since we only do things we are capable of,” he explained.
If VIVO didn’t accomplish this much today, Mr. Shen’s words would certainly sound weird when concepts such as Internet+, online retailer, eco-system are the dominating the Chinese tech industry.
Mr. Shen succeeded because he did his fair part, which is also the guiding principle of Duan Yongping. He never bothers to deal with specific businesses. Instead, he only cares if people are obeying such principle or not.
Such philosophy is like a religious teaching in smartphone manufacturers based on Bubugao Group. Chen Mingyong, also a student of Duan Yongping, is also a practitioner of Mr. Duan’s management philosophy.
OPPO intended to slow down and released merely one new smartphone model (Flagship R7) in 2015.
Nevertheless, OPPO ranked the first in terms of the shipment volume of 4G smartphones in Q3, which helped many other smartphone manufacturers to realize the potential of OPPO.
Although people might expect OPPO to expand and release a series of new models, Wu Qiang, vice president of OPPO, revealed that VIVO was going to slow down. “When our developing team is under too much pressure, they might not be able to focus on details,” he explained. Although OPPO stopped releasing new smartphone models, it never reduced its cost in R&D and its pursuit towards high quality.
So what’s OPPO’s performance like in 2015? Some insiders predicted that OPPO was to sell over 45 million smartphones in 2015, Mr. Wu revealed that its sales was to jump by 50% in 2015 year-on-year.
We can learn from OPPO’s example that a smartphone maker can expand even when it doesn’t have any new models, as long as it has a good command of marketing channels. At this point, I will have to mention again Mr. Duan’s philosophy: do one’s fair part.
Surprisingly, such philosophy was also adhered to by OPPO’s upstream suppliers. For example, the chief distributor of OPPO in He’nan province gave up selling 100,000 VIVO’s 3G smartphones only to VIVO’s transfer towards 4G smartphone.
The reason why OPPO’s suppliers willing to make such sacrifice is that OPPO promised to subsidize these suppliers before it shifted to the 4G smartphones. Since 2015, OPPO endeavored to integrate its resources and channels so as to better utilize resources.
Since the end of 2015, OPPO has started to upgrade its IT system and shift its channel management model. “For example, when OPPO decides to release R7, all the ads, commercials, posters have to be about R7. In the past, we have to send inspectors to tell this for sure, today, however, we only need to log onto our system and see the latest photos of our retailing stores, ”Mr. Wu introduced.
But can OPPO’s model be replicated? Although a smartphone maker might be willing to do so, it could take quite some time for its suppliers to cooperate. Anyhow, Rome wasn’t built in a day, and a goof marketing channel wasn’t built in a short time.
After his first public appearance a decade ago, Mr. Shen Wei only appeared in public for once to explain that VIVO wasn’t just some advertiser that loves splashing out money in advertising. However, he didn’t want to explain too much, since he never wants to set foot into the entertainment circle.
The success model of VIVO and OPPO seems to tell us the founders of smartphone makers don’t necessarily need to appear in public that often.
When we put too much attention on smartphone makers in Beijing, Shanghai and Guangzhou, and also to Internet companies that rise to fame overnight, VIVO and OPPO, which rely mainly on traditional offline marketing channels and TV commercials, quietly entered the second, fourth and fifth-tier cities across China. While people are wondering if Internet is going to overthrow tradition, VIVO and OPPO persisted on some of the most traditional business way of thinking: they only do things they are capable, they have no exciting ambitions, and they seldom talk about expansion.
As a matter of fact, there is a fair reason why VIVO and OPPO adopted such strategy: since they have a good command of the manufacturing sector, marketing channels and the supply chain, they might as well keep a good pace and continue to keep their advantages in offline channels.
More importantly, the price of these two smartphone makers’ models are all around 2,000 RMB. Offline channels will be one of the most important battlefield of the future competition in the high-end smartphone market. This is why Huawei and Meizu are both buried in establishing their offline channels recently.
While VIVO and OPPO had a great performance in 2015, Oneplus, another brand under Bubugao Group, might have encountered some problems in the past year. “I admit that we didn’t do a great job in 2015 because the competition was too fierce in the market,” Liu Zuohu, the founder of Oneplus,
As a matter of fact, when Meizu gave up being a “small but beautiful” brand, Oneplus inherited the reputation. After the first smartphone model failed, Oneplus buried itself into developing the second generation: Oneplus 2.
Mr. Liu was not willing to succumb to public preference and always stuck to his own judgment. Oneplus was left in a difficult situation because nobody can tell when the market would accept Oneplus, and when it won’t.
Mr. Liu, however, was not going to give up. “We did a perfect job in global market,” he revealed. Indeed, the reputation of Oneplus is no lower than other international smartphone brands.
He didn’t want to regret over Oneplus’s failure in 2015, and all he attempts to do is enter the high-end smartphone market
It seems that only madmen and crazy people can make something big of it in the Chinese smartphone market in 2015.
Before Xiaomi just released its shipment figure, nobody believed so. Today, however, Xiaomi has already become the number one smartphone market in domestic China. Yu Chengsong finally succeeded after a series of failure and lots of pressure from the outside. If Mr. Huang didn’t accept Alibaba’s investment and stayed in Zhuhai, it could be a huge problem for Oneplus to survive until the next round of competition. While Mr. Shen Wei and Mr. Chen Mingyong believed that values were enough to support the future development of VIVO and OPPO, Mr. Zhou entered the Chinese smartphone market to meddle with the market, and do something different.
After seeking through the fierce competition among Chines smartphone makers, I really look forward to see which ones are going to stand out at last.
After all, people in the smartphone manufacturing business should be the smartest crowd of people.
[The article is published and edited with authorization from the author @Zhang Si, please note source and hyperlink when reproduce.]
Translated by Levin Feng (Senior Translator at PAGE TO PAGE), working for TMTpost.