In the era of rapid technological advancement, traditional industries are facing unprecedented challenges. The influence of internet enterprises has expanded into nearly every sector, and traditional home appliance manufacturers have not been spared. The color TV industry, in particular, has experienced a significant downturn. According to recent data, global TV demand dropped by 25% in the first half of this year, leading to major setbacks for top TV companies worldwide. However, Konka, a long-standing home appliance manufacturer, seized the opportunity to reform and innovate. By replacing its leadership team with a new generation of leaders born in the 1970s, Konka adapted to market changes, focusing on product renewal and diversification. Last week, the company released its semi-annual report, showing impressive results: revenue increased by 32.49% to 11.4 billion yuan in the first half of 2017. Notably, Konka's smart TV business achieved a 2.5% growth, making it one of the most successful performances in the industry.
The reason behind Konka’s strong performance lies in its forward-thinking strategy of “transition and upgrading.†Over its 37 years of development, Konka has established five production bases across China, aligning with the shift from traditional TVs to flat-screen and LCD models. This strategic move helped the company maintain its leadership in the TV market. However, as the industry faced pressure from the rise of internet-based TVs and competition from tech giants, Konka took proactive steps in 2017. Through the “three major battles†— capital expansion, product upgrades, and cross-border strikes — the company successfully diversified its operations and repositioned itself in the market.
First, Konka focused on capital expansion. The new leadership team, known for its vision, used efficient methods such as direct investment, mergers, and acquisitions to quickly develop new business lines. Konka also planned to invest up to 1 billion yuan in an industrial fund with China Eastern Asset Management, targeting sectors like TMT, smart manufacturing, new energy, materials, and healthcare. The chairman, Liu Fengxi, emphasized that Konka’s future would not be limited to home appliances but would expand into a multi-line investment platform. Since 2016, the company has worked closely with OCT Group, making significant progress in mobile phones, small appliances, and set-top boxes, while building an Internet-based smart ecosystem.
Second, Konka focused on product upgrades. Moving beyond traditional sales models, the company embraced the concept of smart Internet hardware combined with content. Its YIUI system enhanced the value of education, healthcare, shopping, and gaming, becoming a key growth driver. As of June 2017, Konka had accumulated 19.7 million end users and 10.88 million monthly active users. Additionally, the company is investing heavily in next-generation technologies like OLED TVs, which it sees as the future of the industry.
Third, Konka launched a cross-border strike by introducing an Internet TV brand. Leveraging its traditional brand strength and the efforts of its younger leadership, the brand gained rapid recognition, surpassing many established internet TV brands and ranking number one in the domestic market in 2017.
With decisive leadership and a commitment to innovation, Konka is moving forward with confidence. Through the “three major battles,†the company is not only surviving but thriving in a rapidly changing market. The future looks bright for Konka as it continues to evolve and lead in the smart home and technology space.
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