American Fortune Life

"... Wall Street has generally speculated that Andy Smith's way of doing business is to acquire debt bigger competitors than himself.

When he decided to buy Qualcomm, he had already considered the department to be sold later, how much it could sell, and who he could sell to.

After the transaction is completed, it is likely to reorganize immediately, decisively lay off employees and sell non-core businesses, focusing on improving the company's profit margin. "

"From the past acquisition records of Andy Smith, it is not difficult to see his ambitions for the chip market. For all listed chip companies, after all, they still have to explain to shareholders and investors. It is not only the revenue that they see, but also the profit Such as performance, these are the concerns of shareholders and investors.

Whether Andy Smith can control the board of directors and complete the control of Qualcomm at a very small price, and we will get the answer after a while, please wait and see. . . "

The front door of Qualcomm's headquarters in San Diego has been occupied by various media's live broadcast cars. Many reporters are reporting live to the camera, waiting for the final result of the Qualcomm shareholders meeting.

Many people in front of the TV set are of different minds, waiting for the results to appear, especially in the semiconductor industry. There is a feeling of a wolf coming into the capital crocodile that breaks in suddenly.

Because, from a global perspective, when the growth rate of the semiconductor industry becomes low, if companies want to develop in the process, they will definitely embark on the road of integration.

And capital operation is undoubtedly the simplest and rude way. It can simply and easily make price-earnings ratios, income, and profits.

In the case of everyone squeezing each other and the company's growth is slow, then find ways to merge.

This is the first choice of capital predators!

A group of companies engaged in scientific research faced the invasion of a young capital crocodile, which is undoubtedly the equivalent of a capital feast. The acquisition of Qualcomm is the beginning of the capital feast.

As long as you see, the acquisition of the financial advisory group of Citibank, Bank of America, Goldman Sachs, Merrill Lynch and Morgan Stanley can tell how Wall Street favors Andy Smith.

It is itself a super rich, and with the power of the consortium surrounding it, no one will doubt Andy Smith's ambitions for the entire semiconductor industry!

"... If I stand in the seat of Chairman of Qualcomm, I have the ability to play this thing (M & A)."

In the nbc news studio, a semiconductor investor said seriously to the camera under the inquiry of the host.

"From a structural point of view, small start-up companies entered the semiconductor industry in the 1980s, and the listing wave and small mergers and acquisitions began in the 1990s. By the year 2000, horizontal mergers appeared, large-scale transactions emerged, and the development speed of the semiconductor industry has dropped.

In the next ten years, the trend of M & A in the semiconductor industry will shift from horizontal M & A to vertical integration of upstream and downstream, and the future semiconductor ecosystem will become increasingly important. "

"Do you mean that the semiconductor industry will enter a period of consolidation?" The host asked with bright eyes.

"I predict this will be the case. The entry of capital will accelerate the arrival of this integration period, and the curtain has opened!"

Yes, the curtain has opened!

"I propose that Mr. Andy Smith be the chairman of the company."

"I agree."

"agree!"

. . . . . .

Qualcomm ceo Steve Morenkov, who has just secured his seat on the board of directors, has a subtle bitter smile on his lips, looking at ‘the hope of return’, with a slight smile on his face, and Andy Smith, who completely controls the rhythm of the East Conference.

"agree!"

Steve Morenkov saw the crowd cast his eyes on him with a smile on his face, and raised his hand to agree. He saw the dignified expressions on many people's faces relaxed, and he saw a little more recognition in his eyes, especially It was the breath of breath of company executives sitting behind him that made him more helpless and bitterly smiling.

The general situation is gone, and he is not an idiot, how can he go against the fate that has been completely changed, not only will no one support him, when he loses everything, the exchange will not be respect, but indifference is irrelevant.

Just like Paul Jacob, who was kicked out by the original board relentlessly some time ago, even the founder's family was out, let alone he worked alone!

When Steve Morenkov raised his hand to agree, the seven directors who had just been kicked out of the board, twitched the corners of his somber face, and finally sighed sadly. They knew that Andy Smith won, everything It's over.

"Papapa--"

There was an immensely warm applause in the conference room. Andy Smith had a gentle smile on his face. He stood up and thanked him for standing up and applauding. Congratulations on his election and chairmanship of Qualcomm.

"Thank you, thank you ..."

Andy smiled and shook hands with the ten new board members one by one, and shook hands with the top 25 shareholders one by one. Under the watch of everyone, Andy's mouth rose, calmly walking to the top of the conference table, which was already vacant. Behind the boss chair, reached out and patted the back edge of the back of the chair, pulled it back slightly, walked around, stood at the conference table, stretched out your hands and smiled, "Sit down."

After speaking, he took the lead in the chair of the chairman's boss. Everyone saw him before sitting down.

From this moment, Andy Smith officially joined Qualcomm!

"I know that the outside world has a lot of speculations after I joined Qualcomm, such as what to restructure, decisively layoffs and sell non-core businesses, and focus on improving the company's profit margins. Hehe, okay, here, I tell Ladies and gentlemen, those are just outside speculations. My real decision is to increase investment in research and development while doing business as usual!

Patent licensing business and mobile phone chip business are our two pillars of revenue. Since 1989, it has accumulated cdma patents and technologies, allowing the company to maintain annual revenue growth of more than 20%.

Therefore, only by relying on patent barriers and absolute technological leadership can we firmly hold the top spot of wireless chip makers and far from all other competitors, including Intel.

However, whether it is a patent barrier or an absolute technological leadership, this is inseparable from a large investment in research and development. According to the information I have received, South Korea's Four Star Group has begun internal reorganization, and they will increase their R & D efforts on semiconductors such as mobile phone chips. In other words, in addition to Intel, the Gulf Province of Heaven, and South Korea's Four Star Group, Will be our chaser.

Everyone, in the future, competition will only become more fierce. We have to secure our first position as a wireless chip maker. It is not as optimistic as we can imagine. It can be said that we are surrounded by wolves. We cannot be blindly confident and arrogant. The self-confident and arrogant Intel ignores us and is eventually surpassed by us. They will also miss the great opportunity of the entire mobile Internet.

All we have to do is take warning!

First-class companies sell patents, second-tier companies make products, and third-tier companies sell coolies. This is a word that is widely circulated in the industry, which emphasizes the importance of patents. On the way, in the company headquarters, I saw the "patent walls" standing in the lobby. To be honest, it is shocking and spectacular. At this moment, after becoming chairman, I am more proud and feel more pressure. Every patent on the "patent wall" is our core asset and source of profit.

As the chairman, I hope to see more new patents hanging on the patent wall, so that the company can survive forever! "