Jianye riverside, xicuiyuan, and shiziyuan to the west of Shizishan are two high-grade villa communities with the best geographical environment in Jianye Linjiang. Looking north from the window, you can see the second bridge lamp belt under the night and the bright shadow in the river.

Li zaixu stood in front of the North window, looking at the blurred river water in the night, listening to the low sound of the river beating the shore stone. On the windowsill was the evaluation report of Samsung Economic Research Institute on Microsoft's acquisition of 30% equity of global music online.

Li zaixiyu sat on the sofa, tilted his head and looked at the report on the windowsill, sipping his mouth slightly.

Samsung Economic Research Institute is Samsung's think tank and recognized by Hg people as the best industrial economic research institution of Hg. Samsung can get out of the quagmire of the Asian financial storm, and the Economic Research Institute has played a great role in intellectual support. Samsung did not develop the Chinese market as smoothly as expected. In addition to other industrial adjustments, the headquarters also made a decision to establish the China Center of Samsung Economic Research Institute in Jianye to systematically study the deep-seated problems of the Chinese market.

Li Xinyu sat here with a frown because she was asked to contribute to Samsung as a member of the family and was asked to participate in the work of the China Center of Samsung Research Institute. However, the center is still under construction, so she can be lazy for the time being.

"Has Xinyu read the report of the headquarters?" Jin nanyong brought coffee and walked in and gave it to Li Zaizhu and Li Xinyu.

"Hmm!" Li Xinyu nodded and felt really sad.

Who knows, ordinary people's brothers and sisters love each other, but Li Xinyu seldom gets this feeling from the brothers and sisters in the family. Her father was trained as an heir for a long time. Before, Li Xinyu was still young and had no memory, but she went to school after her grandfather died in 1987. The strange atmosphere in the family made her remember deeply, Now everyone is competing for the position of heir again.

What is Li Zaizhu's idea? Why must he force himself to participate in the China Center of Samsung Economic Research Institute under the pretext of his family? Can we blame others for the failure of the Chinese market? Do you expect her to betray the family by allowing herself to participate in trade secrets?

Jin nanyong saw Li Xinyu frown and light knot. He took the report into his hand and turned it casually. Seeing that the atmosphere was a little dignified, he wanted to turn off the topic. Think about it and finish reading the last part of the unfinished report.

Jinhu opened its mouth to Microsoft lion, and it would cost 900 million US dollars. There was a lot of talk about it in the outside world. Samsung Economic Research Institute, which provides strategic think tank support for Samsung Group, soon entered into in-depth research on this matter.

In the second half of 1997, when the financial turmoil hit Asia, Rb acquired the global music online website at a price of less than US $1 million. Then ess and Ida Group North America successively injected US $20 million for development, including Huanqiu, Sony, Warner Most traditional music publishers, including EMI and other four major international record producers, are authorized to sell online.

At the end of 1998, Toshiba and scooter jointly injected US $60 million into global music online to acquire 30% equity. On the one hand, global music online does not have to worry about the shortage of capital. On the other hand, the top three hardware manufacturers of digital music players are completely bundled with global music online.

Toshiba and scober paid a total of $60 million in cash last year to acquire a 30% stake in global music online. When Toshiba and scober accepted this offer at the end of last year, the industry felt a little incredible. However, from the perspective of the favorable sales of iPlayer hardware, it is not unbearable to blackmail Jinhu a little - if you don't blackmail Jinhu, you will lose more in the future, which is not unimaginable.

A year has not passed yet. Jinhu once again offered a price of 15 times higher for 30% of its equity to Microsoft. Li Zaizhu doesn't know whether the senior executives of Toshiba and scober are secretly elated or secretly wipe the sweat from the tip of their nose

Compared with the funds invested by Jinhu, if Microsoft accepts this offer, it means that Jinhu's investment has achieved an excess return of nearly 150 times in more than two years.

Li zaixu gazed at the shimmering River in the dark and kept silent for a long time. It was because of Xinyu's resistance and the economic data that gave him a heavy feeling in the report - the report seemed to tell him that he was far from being the best among the rising stars in the global financial business community.

Jin nanyong also said nothing. When the outside world generally questioned that the lion's big opening of Jinhu would certainly annoy Microsoft, the final conclusion of the report of Samsung Economic Research Institute was that "the offer of $900 million is not too outrageous"!

The report points out that this year's copyright storm in Europe, North America, Japan and South Korea and the expanding Dyer hardware market determine the growth space of global music online.

Although the copyright storm caused by traditional publishers in Europe, America, Japan, South Korea and other economically developed regions this year has made decisive progress after the summer, the free internet music resources in economically developed regions have decreased sharply, and this region is the focus of iPlayer's current market, which has seriously limited the growth of iPlayer hardware sales, due to the increasingly mature commercial technology of flash memory, This makes iPlayer have great room for price reduction. In fact, the impact of copyright storm on iPlayer hardware sales is far less than expected.

It's just that everyone enjoys the excess profits at this time and is not in a hurry to adjust the price.

The report points out that as long as the selling price of mainstream iPlayer products in the market is reduced by one third, the increase in hardware sales can return to the level before the copyright storm.

As the top three supplier in this field, Samsung certainly knows how the commercial technology of NAND flash memory is developing.

Samsung Electronics Hg headquarters has just developed a prototype of 1G flash memory chip, which is expected to be put into large-scale commercial production in less than a year. Although we can't accurately judge the technical level of Jinhu at this time, we can roughly judge that the technical gap between Jinhu and Samsung in flash memory chips is between the first and second generations. If necessary, Jinhu should also be able to put a large number of flash memory particles with a storage capacity of 256M into the market - the proportion of Toshiba's technical investment in flash memory chips has decreased, Toshiba and IBM have focused on the micro hard disk technology with a larger storage capacity. Compared with the technical prospect of micro hard disk, the storage capacity of flash memory chips with a storage capacity of 1G can be mass produced as early as the end of next year.

Toshiba and IBM have been developing micro hard disk technology for more than a year, and there is no mature commercial technology. Flash memory chip is still the core factor determining the price of iPlayer.

At this time, Jinhu launched four iPlayer products in the North American market, with prices ranging from $199 to $699. Jin nanyong believes that Jinhu will not lose money even if it cuts the price of the most high-end four core 512yer below $300.

The report points out that Jinhu holds considerable initiative. Jinhu significantly reduces the price of iPlayer in North America, stimulates the rapid growth of the hardware market, and promotes global music online to obtain greater growth space at the expense of hardware profits. The equity value of global music online naturally rises.

Other digital music player hardware manufacturers, including Samsung Electronics, certainly do not want a sharp decline in hardware prices. The market growth caused by the sharp decline in prices cannot offset the loss of profits caused by the sharp decline in prices in a short time. In addition, the transaction between Jinhu and Microsoft also includes the licensing of iPlayer product technology, This means that once Jinhu and Microsoft reach an agreement, another giant will be squeezed out of the iPlayer hardware market.

Although Microsoft has not yet demonstrated its skills in the consumer electronics hardware market, which consumer electronics manufacturer worldwide dares to despise Microsoft's expansion?

All the initiative is in the hands of Jinhu, including Samsung, Toshiba and scober. Everyone is eager to look at Jinhu and see the balance of interests of Jinhu.

Toshiba and scooter are better. After all, Toshiba owns 20% equity of global music online and scooter owns 10% equity of global music online. Their profit loss in hardware sales can at least make up for some equity appreciation.

Of course, it can't be said that there is only some compensation. If Microsoft accepts the offer of Jinhu, Toshiba's equity investment of $4000 will increase to $600 million.

You should know that due to the financial turmoil, Toshiba's total net profit in all consumer electronics, communications and computer businesses in 1998 was not $600 million.

Toshiba and scober have any profit loss in hardware sales. It is enough to transfer part of their equity to the venture fund at a low price.

Jin nanyong stood a little closer to the North window and deliberated on all kinds of tricks in it. In general, only Samsung is a childless child. The hardware sales profit may suffer a great loss, and he can't get compensation from global music online like Toshiba and scober.

After a year's efforts, Samsung's global sales of iPlayer will surpass scober into the top three, but what's the use? When Jinhu closely integrates iPlayer with the music online sales model of global music online, Samsung only focuses on hardware sales, which is destined to be in a passive position forever.

Li Zaizhu suddenly turned around. Jin nanyong was shocked. Seeing Li Zaizhu's eyes wide open and shining, he forgot to ask him what he thought.

"We can't stop Microsoft from stepping in. Instead of letting Microsoft cooperate with Jinhu, why can't we take the initiative?" Li zaixu asked loudly. He hit his palm with his fist. Seeing that the market scale of iPlayer is getting larger and larger, the rope over Jinhu's head is getting tighter and tighter.

"Copy global music online outside global music online?" Jin nanyong asked. He communicated with Li Zaizhu in Korean. He didn't think his description was very laborious.

"Although there are some difficulties, it is better than us strangling Jinhu and Microsoft blackmailing Jinhu with $900 million!" Li Zaizhu said.

"We want to cooperate with Microsoft. Does Jinhu take the initiative to reduce its offer to Microsoft?" Jin nanyong asked, glancing at Li Xinyu.

Li Xinyu pursed her lips and didn't speak. She pretended to think, but she wouldn't make the atmosphere too stiff.

"Jinhu's initiative to reduce the price of Microsoft is also good for us," said Li Zaizhu. "With the reduction in profits from the global music online equity transfer, Jinhu will not give up too much hardware sales profits and slow down the pace of sharp price reduction; it can't be a bad thing to reduce the amount of funds Jinhu can obtain at one time!"

Jin nanyong thought what Li Zaizhu said was reasonable, but he thought it was too simple. Did Jinhu not consider that it would annoy Microsoft and give them a chance when offering Microsoft $900 million? Some things can't be thought through and there is no way. We can only judge things according to the amount of information we have mastered. In addition, they can only make suggestions to the headquarters, whether the headquarters will adopt it or not. In other words, after the headquarters adopts it, it is mostly implemented by American companies.

Jin nanyong thought again, what does Mitsui's chizuo xiuzang think of this? Thinking so, I looked at Li Xinyu again.

Chizuo xiuzang and others are also in Jianye. The main project of Huaxia NEC is completed. As the general representative of Mitsui products in China, he was invited to attend the completion ceremony of the main project.

The Asian wafer market is far from recovering. Except that a few wafer factories can eat enough, for example, NEC Electronics has surplus capacity in Rb's local wafer factories, so it will not distribute its business here. Most people believe that Huaxia NEC should postpone its production to avoid huge losses once it is put into production.

Chizuo xiuzang didn't want to attend the completion ceremony of the main project. In reality, he didn't come forward to cheer up Huaxia NEC. Huaxia NEC didn't know how much it would suppress Zhongjing microchips.

He now has the news that the US authorities also hope to promote China's accession to the WTO and reach a Sino US bilateral agreement as soon as possible. The US authorities hope that China will make greater concessions in liberalizing the domestic market, so it is very likely to broaden the review standards for the wafer technology transfer association of Zhongjing microchip and Deyi.

This is a situation that almost all electronics manufacturers in Rb, Taiwan and Hg do not want to see.

Once the wafer technology transfer agreement between SMIC and Deyi is reviewed by the U.S. authorities, the wafer manufacturing level of SMIC can be improved by two generations in a very short time. However, the growth of Aida group and Jinhu behind SMIC in recent years is so amazing that it is almost certain that once the technology transfer agreement is reviewed, It will have a great impact on the Asian electronic industry.

RB, Hg and some basic electronic industries in Taiwan can only be forced to transfer to China, which has lower labor costs and rich human resources.

Whether observing the changes from a realistic point of view or personal grudges with that guy, ikezuo xiuzang wants to promote the production of Huaxia NEC as soon as possible.

He doesn't care if Huaxia NEC loses money or not. Anyway, he doesn't need Japan to bear the loss. If Huaxia NEC loses a lot and Zhongjing microchip makes a lot of profits, chizuo xiuzang, according to his understanding of Chinese officials, doesn't have to worry that the Chinese government will agree to Huaxia NEC's acquisition of Zhongjing microchip. The Chinese government will strongly support Huaxia NEC. Sometimes if it takes too much effort, it will naturally pull off the frame.

With this in mind, chizuo xiuzang came to attend the completion ceremony of Huaxia NEC in a high profile, and also brought some important figures of NEC Electronics. He was also eager to coordinate in the middle, so that NEC Electronics promised that it would hand over some wafer OEM orders to Huaxia NEC for trial production - always give some sweets first.

Chizuo xiuzang knew about Jinhu's big opening to Microsoft lion almost before boarding the plane to Jianye. At that time, he was also a little confused. He didn't know why Jinhu dared to offer a price of $900 million. After two days in Jianye, there were more news from all aspects, so he sorted out some context.

It is precisely because of sorting out some context that she feels more headache. When attending the completion ceremony of Huaxia NEC main project, chizuo xiuzang will subconsciously tighten her eyebrows even if she wants to laugh.

Over the past two decades, the portable music player market has always been the world of Japanese enterprises, from which Japanese electronic enterprises have drawn huge profits. Up to now, Sony has sold nearly 200 million tape walkmans, 50 million CDs and 5.2 million n.

The reason why Sony can ascend the throne of the global consumer electronics industry today is that it has made a great contribution to the portable music player market.

Before Jinhu launched Dyer, Sony and other Japanese companies never considered which company could compete with them in the portable music player market. When Jinhu first put Dyer on the RB market in early 1998, Sony and other Japanese companies, except Toshiba, ignored it.

Toshiba's alliance with Jinhu also failed to change their attitude. It was not until the end of 1998 that Dyer's total sales in North America exceeded MD for the first time that Sony and other Japanese companies were a little flustered.

Dyer's rapid rise in 1998 was related to the existence of a large number of free music resources on the Internet. Sony and other Japanese enterprises have clearly seen this, and they really want to turn the situation back from this aspect.

Sony, as one of the four major music distributors in the world, authorizes the global music online sales of music copyrighted by Sony. For this reason, it is inconvenient for Sony to directly seize the infringement official of Jinhu, and the American record industry association has become the best representative. However, it never occurred to me that the infringement lawsuit that was supposed to deter Jinhu from withdrawing from North America led almost all emerging capital forces related to the Internet in North America to sympathize with Jinhu, which also made the idea brand famous in North America, and the product sales soared, resulting in a slight decline in the sales of Japanese brands' CD and MD in North America from the beginning of March.

SONY and Japanese enterprises and the American recording industry association have been adjusting their tactics after a rush. Not only the American record industry association, but also Sony, as one of the world's four major music publishers, can also go naked and initiate dozens of lawsuits in Rb.

This time let them find the right beat. After the sharp decline of free music resources on the Internet, Dyer's booming sales in developed countries and regions came to an end temporarily. Although the copyright problem in economically underdeveloped countries and regions is still serious, the popularity of computers in economically underdeveloped regions is low, and Dyer's high selling price further limits the sales in this region. After entering the summer, Jinhu began to sell 64yer at the price of 2000 yuan in the domestic market, and the sales volume of the whole summer was less than 20000 pieces.

Ikezuo xiuzang is quite clear about the whole story and secretly coordinates and promotes it by taking advantage of Mitsui's power; Yuzhi Nakamura, the contact person of Sony to coordinate the matter, is also an old acquaintance of Jinhu. Seeing that Dyer's sales growth was curbed, Hideki ikezuo and Yuzhi Nakamura thought that the first war was a win.

Nakamura Yuzhi looked at the matter more from the standpoint of Sony. Hideki ikezuo was mixed with personal gratitude and resentment. Who could have thought that the pleasure of temporarily winning was smashed without holding it for a month, and found that he should not have any pleasure at all.

To curb the growth of Dyer sales in the world, however, through an official with the American record industry association, Jinhu's sales in North America have nearly tripled, which has slowed down slightly in the past month - however, the elimination of free music resources from Internet by music publishers such as Sony has directly led to a sharp increase in the market value of global music online, This is the fundamental reason why Jinhu dares to talk to Microsoft lion and offer $900 million for 30% equity.

From beginning to end, Jinhu is picking up big bargains and thinking about some things. Chizuo xiuzang feels bitter in his mouth and feels like vomiting blood.

Ikezuo xiuzang's first thought was to destroy the transaction between Jinhu and Microsoft. Toshiba and Samsung joined the Dyer camp, which threatened the king status of Japanese enterprises in the portable music player market. Wouldn't it mean that Microsoft's early efforts might be in vain?

In chizuo xiuzang's view, the reason why Jinhu can rise miraculously in more than five years has a lot to do with the big tree of Jinhu near Deyi. It's not far away. Without Deyi, it will take at least ten years for CIC microchip to improve the wafer process technology for two generations with its own ability - if Jinhu is next to Microsoft, it's OK!

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