Wang Chuan: Because there are a lot of people from traditional manufacturers, there are traditional manufacturers responsible for big business. Their basic pricing principle is the most common model is the cost price multiplied by 2, if there are some selling points above this, they will multiply by 3 Multiply by 4, the flagship model will be high. We basically do it according to the cost price, so the natural price will be cheaper for others. Because we can save these costs, we can in turn be able to spend more on materials and R&D investment. In fact, our entire production costs and R&D costs will be higher than traditional manufacturers, but the overall retail price is lower than traditional manufacturers.
Reporter: Just now you will have further actions on the content. What is convenient to disclose?
Wang Chuan: Anyway, it's a big action. Because I can tell you today, I'm sure to speak at the press conference. Lao Chen said that he would invite everyone again. He said he would not engage in the press conference. .
Reporter: About a few months?
Wang Chuan: Soon.
Reporter: Now big companies will cooperate with stars and let stars do content. They are in charge of influence. What about Xiaomi? For example, Ali and He Yong, including many companies are doing.
Wang Chuan: Yes, I think this is a very effective method of communication. Xiaomi also does not rule out cooperating with stars. However, we all know that Xiaomi sells at a cost price. There is no budget for this. Some stars are impressed by our products and they will help to send a little, but we have not done so far.
Reporter: He is not a form of endorsement.
Wang Chuan: I know that under normal circumstances, stars are asking for expenses. They are very sensitive in this regard.
Reporter: Will you hire a star to your company and give it a title?
Wang Chuan: I personally think that our core product is still Xiaomi, Xiaomi will still focus on the product to do a good job, because it is not really hired to come to the company to work, give you design and development products, so we are unlikely to adopt the way you just said , Please star this way. We do have the possibility of working with people who have strengths in certain areas, such as those with special strengths in acoustics, to enhance our audio, and in terms of picture quality, to enhance our image quality, but we do Not quite a gimmick.
Reporter: Now all companies are talking about the ecological construction of the contents. When Xiaomi looks back, what is the ecological mechanism of Xiaomi's content? What is the next basic logic?
Wang Chuan: I think this ecology may not be an ecosystem that a company does. It may be an ecology that everyone does together. For example, some people say that I am doing ecology. Actually, I really do not see what their family is doing. What is ecology? In an environment, many families can co-exist together for common prosperity and common development. Although Xiaomi never talks about ecological content, it is actually doing ecology. Like us and iQiyi, we cooperate with many families. For example, we are on the phone, video content is currently the most abundant, the millet video on mobile phones is China's most abundant video APP, because of what? We work with all video sites. We used to call Heiner Baichuan. Until now, all video sites except Tencent have been.
Reporter: Who do you think will become your competitors?
Wang Chuan: I think that everyone will become our competitors, but there are only small ones. Competition is not a bad thing. Only competition can make product service better. What are the strengths of Xiaomi? I think first, this is a very serious product company. We actually did a lot of products very seriously in the past five years. Although these products do not have any advertising support, we still make a lot of volume. Including mobile phones, we have the first two years in China. We now have 130 million mobile phones. We also have more than 10 million users for TVs and boxes. These users, I think, are the biggest advantages for Xiaomi. Why do you want to give us the content? It is because we have more users. In turn, we also integrate these contents and provide our users with a better experience. If you want to watch a film, you don’t have to say that there is no search in Sohu. There was no search in the arts, and there was no search in Tencent. You did not search for me here. I told you that apart from Tencent, others can find it, and tell you that LeTV also has been given to users on our mobile phones. Now.
Reporter: Why is it mobile phone, not relative to other terminals such as TV?
Wang Chuan: There are a large number of users of mobile phones. We can look at the data of Ereli. LeTV has a very large number of users. We have also monitored ourselves and installed LeEco on our mobile phones. The activity is very high. Low, low to a lot worse than the first three. At present, the number of daily active users is iQiyi, the second is Tencent, the third is Youku, and LeTV is an order of magnitude worse than them. He said that I would use this content to compete for my advantage, or that I want these users, so on the mobile phone, today everyone will give me the content, except for all homes of Tencent, including iQIYI, Youku, Sohu, PPTV, Popularity, Film Network, LeTV, all of us have been given us, so we are the most complete here. So on ours, the content experience is particularly good. In addition to several Tencent exclusive movies, so that the user experience is very good, which is our current even if only on the Xiaomi mobile phone, our user is also very alarming. Ereli ranked us fourth. We already have a hundred million people who will be active in the month. There are about 1.14 million hot videos and 8600 TV shows. We have 12400 variety shows and 37,000 movies. These are all genuine, including 8100 animations, 85,000 entertainments, and 167,000 sports. 14000, funny video 34000, our content is very, very much. So our content is actually very important.
Reporter: But why is there such a difference in content on mobile phones and television?
Wang Chuan: It is mainly on the mobile phone that we all have to give us the content. It is very simple. Do you want users? We talked to the mainstream website, iQiyi we bring 10 million users at least one day, do you want users? If you want the user to give us the content, do not give it to us. What do you think of music as content? Because its activity has been very poor, we do not give us any more users. Our advantage is that it is open. The video business is a huge money-burning business. I'm a director of iQiyi. I also voted for Youku. Therefore, I also know that two very accurate data, of course, can not speak out, it is a huge investment. business. In this huge amount of investment in the business, it is difficult for everyone to complete the content, everyone fights is my family, your family does not, so every year is a full one, I think that only the polymerization can really do all. Because we are not a video site, I have a cooperative relationship with these video sites rather than a competition. Therefore, we are an open ecology. Everyone can cooperate with me. Everyone can get me here. After you leave here, it will be able to get paid income and advertising revenue. They are willing to cooperate with me. It's even more obvious on mobile phones. One is that the number of users is very large, and the other is that today's profit model has already become, so he doesn't put a big dollar for me here and put a big dollar for him. The pattern of television charging has not yet been truly formed, so it can be put on hold. This is probably the case. It is very rich on mobile phones. We will also be running on television this year. Today we are the most comprehensive television.
Reporter: Now that Xiaomi has also invested a lot of companies, what are the current investment plans for Xiaomi's TV industry chain? Do you feel that it is very critical?
Wang Chuan: Our investment idea is very simple, that is to make friends, because we are a converged website. We are open, we are all friends, and we are all competitive. We do not have to stand with the team, nor do we need everyone to stand with me.
Reporter: How to judge the value of this investment target and Xiaomi TV?
Wang Chuan: Investment is mainly investment. Let's say that, similar to ours, what is similar? I feel that in line with Xiaomi's values, Xiaomi's values ​​means that we must make our products to the extreme and they must be very kind. I said just now that we must do TV to be the best TV in the world and we must make it affordable. Similarly, if you want to make a movie, do you really want to make the best movie in the world? If we really want to do this, we will invest. We want to invest in companies that share our values. We think they will have great development prospects in the future.
Reporter: At the press conference, you mentioned that Xiaomi TV's strategy is to be a high-end flagship. Can you explain it in detail?
Wang Chuan: I think we set this strategy from the very beginning. This strategy is that we only do the top-notch television with the highest technology content. We explained at the press conference just now that this kind of TV is actually an introduction to everyone. The cost difference between machines and low-end machines is not that big, but the original traditional manufacturers use technology to package and make money. Xiaomi does not plan to make such money, so we hope that all the most advanced technologies can be applied immediately to millions of households. If you use it to make money and raise the price very high, high-end machines only serve very few people. The latest technologies, the latest technologies, and everyone’s achievements cannot be truly popular. This is contrary to our values. , so we are actually returning those top-end TVs directly to its original appearance. It should have sold the price. It is only reasonable that you should sell the millet with the highest TV set from the TV manufacturers. It seems that millet is very different today, but I don't think they are right. I believe everyone will be like us in the future.
Reporter: Now many brands have made television bigger. Today, Xiaomi has made a 43-inch model. Does it mean that there is more plan for such a small-scale millet?
Wang Chuan: Yes, Lei always wants us to do as few products as possible. We must work hard enough on each product to do its best. We finally found that we must at least take into account the size, different sizes are used by the user in different scenarios, the large size is used in the living room, the small size used in the bedroom, the living room you need a beautiful TV, are you Is the bedroom ugly? Therefore, we hope that whether it is a living room or a bedroom, you need a beautiful TV. The United States is also high quality, good function, and good content. We strive to create the most beautiful TV regardless of the living room or the bedroom. So, as I said earlier, we have done everything from 70-inch to 43-inch, and each one hopes to make it affordable for everyone, so that we can afford it for ordinary people, not that we only serve some Very rich people. In particular, I do not want to be rich.
Reporter: The first question, we have seen that 65-inch curved TV has not been produced in volume. When will Xiaomi TV produce energy?
Wang Chuan: We have already mass-produced.
Reporter: Will March 31 be sold at the same time?
Wang Chuan: Yes.
Reporter: Overall, last year, how much was the total TV sales?
Wang Chuan: We said that 1 million units last year.
Reporter: Including the box?
Wang Chuan: Does not include boxes. We have even more boxes. Our box is the first in China and the box is invented by us. At that time, I always had names with mine that had a variety of names. In the end, Lei always said that it was a millet box, so you see the final category is called a box.
Reporter: How much income?
Wang Chuan: The company did not authorize me to publish revenue. Maybe we do not believe that sales and income are not the pursuit of Xiaomi, so Lei always speaks last year and is happy. Ray always prohibits my sales and income. I told you a small story. Don't talk about it. Once Lei was about to finish talking at 12 o'clock, he would be particularly tired. Just talk to Wang Chuan and go home. Talk to me. Can you just leave the numbers? I said that you thought I was serious. I told you all about it. He said that if you say everyone, you should take it seriously. We also don’t allow us to say numbers internally. It’s good to be happy.
Reporter: Regarding the location of the licensee, how did Xiaomi see it? If the licensee has a license, will the integrated production be better?
Wang Chuan: Why do we have a particularly good cooperation with the licensees? The licensee has no iQiYi, and the country has seven licensees, including Future TV, CCB, Guoguang, South Media, Hunan Mango, Hangzhou Huaji, and Shanghai Best Connect. The state requires that these licensees control the security of content. Sex, the state is concerned about the content, because TV is a device used in a family. Not only will you use it, your parents and children will use it. The state is concerned that if content cannot be controlled, if something yellow, such as yellow, appears on television, it may affect the entire family. Therefore, the state requires the licensee to control the content. The reason why Xiaomi has a good relationship with the licensees is very simple. It is that Xiaomi is particularly compliant with regulations. There is absolutely no trouble for the licensees. We do not wipe the ball and we do not broadcast the game that the state will not allow. Because I think we just want to broadcast very healthy content, I've been able to do a good TV, already very rich, I do not need to play erotic edge ball, we are going to do a very healthy TV, let your parents also Can you see, let your children see, do you want your parents, your children to see pornographic things? You certainly don't want to, so we will do a healthy television, so we are particularly regulated in this regard. We are not only good with licensees, but the government also feels that we are a company that complies with laws and regulations. Therefore, the relationship has been very good.
The licensee, I think they should not be doing television. If the licensee should do television, I think the Chinese government should do any business and not need other companies to do it. It is still state-run.
Reporter: The licensees are familiar with the cooperation of various Internet TVs. Is LeTV's license now resolved?
Wang Chuan: It has not yet been resolved. It is clear to you that it is still streaking.
Reporter: It still does not add the contents of the licensee?
Wang Chuan: It does not have a licensee. You can verify with other licensees who it is working with.
Reporter: Many TV manufacturers began laying lines this year, including storms, popular lines, and many began to do third- and fourth-tier cities and rural markets. How did you plan for this?
Wang Chuan: This is related to Xiaomi TV. We will do it if nobody else does it, nor will we not do it if others do not do it. The core of the millet model is to reduce the cost of channels, to save advertising costs, and to give consumers access to them. Walk down the channel, unless we come out of a very efficient offline channel.
Reporter: There is no plan yet?
Wang Chuan: There is no plan at all, nor is it. We are now the home of Xiaomi who has begun to sell under the transformation line and is very successful.
Reporter: Will the three or four-tier cities and rural markets also go?
Wang Chuan: We will gradually, I just said, Xiaomi will not sell for sales, we will not change our values ​​because of sales, you understand what I mean, we do not want to say this product we sell to users It is very expensive, and then the cost of many channels is added here. This is not what we hope, so we do not rule out offline. Our efficiency today is higher than that of other e-commerce companies. Online efficiency is more efficient than offline. .
Reporter: Like home appliances in online shopping category only accounted for 10%, offline market is still a big piece of cake.
Wang Chuan: First, I agree that the offline accounted for a large share. Second, the current online purchase rate of TV has far exceeded the 10% you just mentioned. You can look at other data again, because the data provided by various suppliers are This is much higher than you, and at a high rate of development, the proportion of people on the Internet has grown very high last year, and it has increased by about 10% last year, so the online development rate is very fast. This is a.
The other one, as I said earlier, we will not be selling more online because we will, we must do offline, because we are still millet, millet is to do a good product, so that everyone can afford it.
Reporter: Regarding the issue of pricing of millet content, the experience you just mentioned at the press conference was what we did. At that time, it was concluded that Xiaomi did cover a lot of content, but its pricing system and payment system were extremely complicated and only Xiaomi decided. Single, would like to ask in addition to what you just said 3S TV and iQIYi members, the other members of the millet TV and the box is not as there are several, in addition to 3S above The iQIYI members are still the same as the original. For example, they have cooperated with Mango TV, and they are all on demand. There are still many kinds of them. Is it because you deliberately do not solve the various payment methods? Or is it because Xiaomi does not make video websites, but only a converged platform?
Wang Chuan: First, the kind of the past is determined by our aggregation model. It does not mean that we want to do a lot of paid areas, mainly because these contents are paid content and we have to pay to give you the content. But on the other hand, it's hard to make these packages into a package. For example, how to divide the money, if you put the content together, how can you tell? There is no way he can tell. Everyone may say that because my movie has caused users to pay, how can I share the money with me? So it's hard to tell. Now, the first is that we will all get through, and the members we release today are not only on the Xiaomi TV 3S. On all Xiaomi TVs, all the Xiaomi boxes will be such a member model, and finally a unified membership. This unified member is currently based on the content of the current best iQIYi membership. If other homes are willing to pay for us, unless all of the content of the niche I just mentioned, all of these content are If you are charged here, you must enter this package. For example, we can use the buyout method or the method we share with you. We must talk about an acceptable method and the content can come in. We finally unified into a paid content.
Reporter: Is this paid content the equivalent of iQiyi?
Wang Chuan: In 199, for example, I bought it. In the end, I might divide it up to cover my cost. If he bought it, he would score it.
Reporter: Many people in the field of science and technology think that this year is a very fierce year for VR. Now Internet TV is also developing games and television, including naked-eye 3D TVs. Many outsiders think that Xiaomi is imitating their surface, but Xiaomi has always done Popular TV can afford affordable civilians, Xiaomi Mi later this will not be combined with the game TV, including doing some 3D naked eye technology?
Wang Chuan: I think this is the case. The VR issue this year is very concerned about the media. It is quite interesting. My personal point of view, VR is another screen, is another screen in addition to mobile phone screen, tablet, computer, television, I do not think VR will replace TV, or VR will replace the phone. I do not know if you can understand? I don't think it will replace the others. I don't think its market size will have a large market for television. Although it is hot today, it is a very new thing. This is my personal point of view and does not represent the company's point of view.
Reporter: As the No. 21 micro-whales were released in Shanghai, they have micro-whales that can be injected into the Premier League. VR may be a combination of games, but I would like to ask whether Xiaomi has any new prospects for the current market.
Wang Chuan: Are you on the VR or TV market?
Reporter: TV market.
Wang Chuan: First of all, Xiaomi does not imitate others. I can tell you a few points. First, all manipulations of smart TVs today were invented by Xiaomi. This was the earliest thing we did when we made Xiaomi's box. It was designed for TVs. The remote control we use today, the 11-key remote control we invented, all of us are imitating us. Today all the controls are to imitate our design at the time. This is the first generation of millet TV. We invented the interactive mode and remote control of today's smart TV. The second year, we made an independent sound, and many manufacturers are doing it today. In the third year, we made a split TV and many manufacturers are now doing it. I don't think we just imitate others. It's just that our company has been set up for a short period of time. We really only did TV for only three years. This surface actually exists before we do television, so you can't say that we imitated the surfaces of others. This surface is made by Samsung. It is not made by the TV factory. It is done by Samsung. Samsung gave the surface module to everyone to make it into TV, not to say that other TV factories have made curved TVs. Imitate the curved TV, just say today's users need curved TV, we have made curved TV.
Reporter: I still have a question. I am a Chengdu HD fan. Many members will ask why Millet and LeTV are the only ones. Many people hear only LeTV and not hear about Xiaomi.
Wang Chuan: Of course, we are far more paranoid than marketing.
Reporter: In November and December of last year, LeTV cooperated with TCL and mentioned curved television. How do you do this? I saw people today say that on March 31 they will also release related products.
Wang Chuan: I feel very good. We have no relationship with them on the 31st. I think LeTV is very cooperative with TCL and will turn LeTV into a traditional TV manufacturer. I think we do not rule out cooperation with traditional manufacturers in investment, but the core question is whether, after such cooperation, can we bring better products to users and we can create new values. We haven’t talked about it but we haven’t done it today. The main reason is that we have our own principles. We don’t mean that others will do this, we will do it, and if others do not, we will not do it.
Reporter: This screen is still quite critical, that is, if you can produce in volume or in kind. If you are investing in the industry chain, you can be sure that development will be stronger. If not, the relationship may not be so strong.
Wang Chuan: I've analyzed this industry with you. The screen industry is very interesting. Like other industry departments, the screen industry is the same as memory. First, it is a huge investment. An LCD plant may have to invest a few billions, which is the first. So, today there are only six manufacturers in the world who can make TV screens, one from Sharp in Japan, two from South Korea, Samsung and LG, two from Taiwan, Chi Mei and AUO, two from mainland China, one from BOE and China Star Optoelectronics. Once the production capacity of the second screen cannot be stopped once it is started, the amount of output per year is so much, it is difficult to say whether it is down or put up, so it is highly related to the relationship between supply and demand. If the demand for television screens is greatly increased, it is impossible to increase production. If it is rigid in the short term, it cannot increase its production capacity. In the long run, you can invest a few billions more to build a new plant. The short term is not. possible. On the other hand, if the demand for screens is reduced, he will not be able to stop production, so this industry is a big loss-making industry. If the demand is greater than the supply, they are making large profits. If the demand is smaller than the supply, everyone will lose a large sum of money. Therefore, it will lose one year to earn one year. This is basically the state.
In fact, the investment screen factory also has several international large-scale screen factories that discussed with us. We hope that we can invest, but what are we evaluating? This investment will not help us to solve the supply problem. If the supply is less than demand, any one of them asks you and sells the screen to you. If the supply exceeds the demand, each screen factory will be the same. Even if you invest, he cannot make money. It is such a relationship. This is essentially such a relationship. The relationship of this screen is like this.
The process is also the same. For example, if a new process is developed, all the screens will use this process instead of doing a bit of advanced process. Others use a poor process, and it is impossible to do it all on one line. , it is impossible to do a higher process for investors, almost to you, because they are all the same reporter: LeTV released that last year is also a curved screen in cooperation with LG, and later we heard that it seems not the case, Is Samsung's curved screen and millet exclusive?
Wang Chuan: It is impossible for us to have an exclusive relationship with the screen factory. Even if I am his shareholder, he can't be asked to give him exclusive rights. In the end, whoever does it first depends on who's R&D strength.
Reporter: I heard that Samsung will not give music to the screen. Is this true?
Wang Chuan: You ask Samsung. Anyway, that is, who should do it first, this is R&D strength.
Reporter: I would like to ask a question about IP. Last year I said that IP is hot. Many video websites do their own IP, including Leyi's "Yueyue Biography" and "Prince of the Prince" are really hot. Xiaomi has not done IP. s plan?
Wang Chuan: We have already started investing in some film and television companies and some dramas. Everyone will soon see the drama we have invested in.
Wang Chuan: You can study their models. Their mode of operation is very similar to that of investment companies, unlike the model of our product companies. For example, to make a movie is not to say that I use our own company's photographers, use our own company's stars, and use my own company's screenwriter. This is all our own company's people. We make a movie. This movie is ours. The product. This is our model. Actually, the operating mode of the film industry is the investment model. They call the board, temporary directors, screenwriters, actors, etc. Therefore, the actors are all freelancers and do not belong to any company.
Reporter: The membership mechanism that you just mentioned about the licensees, like the one you are currently selecting is the GITV (Galaxy). For example, if the user sees the content when he visits the Huada section, he must re-register for a membership payment. Will Fantastic Art pay a certain amount of money? Is the user experience a good feeling?
Wang Chuan: First, we currently use two licensees, one is CCTV, and the other is Yangguang Galaxy. Second, Huada itself is also a licensee, but it also has part of the content. The licensee has two kinds of licenses, one license is the group broadcast control license, and the other is the content license. He is here to provide content as the content provider. The reporter who spoke just now said we all spoke to us that we had opened a lot of special zones and the user experience was particularly bad, so we are currently bringing them together and the paid content is added to an affiliate. You have to pay for it. To this one, free content you can put in the entire basket.
Reporter: Before the OTT had already held a press conference, large-screen display advertising and the like, do not know whether millet did not consider?
Wang Chuan: I think it will take some time for large-screen liquidation. The main reason is that today's advertisers haven’t really turned around. There is a process, including the realization of the realisation on the computer and the realisation of mobile phones. First, companies like Youku and iQiyi already have a large amount of users on their mobile phones, but they have been able to cash out for a long time. Real money on mobile phones should start from the previous year. It was obvious last year, and we ourselves are the same.
Reporter: Your cooperation with OTT licensees, like IPTV is very optimistic. Who do you think is better?
Wang Chuan: IPTV is what telecom operators are doing. OTT is a business or something. I don't think this can be compared. If you want to buy a box from the commercial market, you will buy OTT. If I add a broadband, the operator will send you one when it is IPTV. In fact, IPTV has no advantage, and the cost is high. It is a dedicated network. I think it is also difficult to say. These two are incomparable. What are the core issues? Is it true that telecom operators can really do a good job in the user experience, including watching some radio and television operators? They also sent us a lot of boxes. Everyone has their experience. Isn't that a good experience? Each company has its own strengths. Telecom operators have their strengths. In turn, we have done a good job of the experience. I think we should still have a division of labor and do what we are good at.
From another point of view, in the mobile phone market, there are a lot of mobile phones that are similar to those that can be customized by operators. The question is whether users are willing to choose mobile phones customized by operators or are willing to commercialize them.
--End--
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