sbdcsierra Chapter 441 The Subprime Mortgage Crisis Intensifies
Chapter 441 The Subprime Mortgage Crisis Intensifies
"Tsk tsk, Huachang's Honor R1 and Hamwurst Electronics' G1 are sold out."
In the Blue Star Electronics CEO office, Liu Hong and Lu Yi were sitting on the sofa drinking tea, and Liu Hong clicked his tongue.
What are the global news headlines these days?
Not the North American subprime mortgage crisis.
Nor is it Blue Star Electronics or Future Group.
But flower plant and ham sausage electronics.
Huachang and Hamwurst Electronics, respectively, have become popular with the Honor R1 and HTCG1, and have become the focus of national attention and the center of heated discussions.
Major media outlets around the world have reported on the hot sales of Honor R1 and HTCG1.
This not only stimulated other colleagues, but also Liu Hong.
The Flower Factory’s Honor R1 sold over one million copies in two days.
G1 of Ham Sausage Electronics [Wang Tian achieved a million achievements in time.
This kind of hot scene has never happened before, even for a star-level product like Pinnacle Mobile.
It would be a lie to say that I am not envious.
If Pinnacle mobile phones could sell hundreds of thousands of units a day, Liu Hong would laugh out of his dreams.
"Now, both domestic and foreign mobile phone companies are unable to sit still and are stimulated by the hot sales of Honor R1 and HTCG1."
"I heard that big manufacturers such as Nokia and Motorola were still sitting on Diaoyutai before. Now, three meetings a day [discuss how to deal with the menacing flower factory and ham sausage factory].
“Mobile phone companies like Sanxing have begun to develop smartphones based on our Android system.
Liu Hong said.
Hearing this, Lu Yi nodded and said: "Huachang and Ham Sausage Electronics have already turned up the heat. Even big manufacturers like Sanxing have begun to move closer to us, not to mention other mobile phone companies."
Liu Hong nodded with a smile and said: "If all the mobile phone companies in the world join the Android camp, hey, we will be able to make a lot of money just by splitting the profits between 30 and 70."
Lu Yi said: "It is basically unrealistic for Nokia and Motorola to join our Android camp. They have their own independently developed smartphone operating systems. Although they are not as good as Android in terms of performance, they also have We will not give up our own system, and we should invest a lot of resources to further develop our own operating system to compete with our Android system."
Liu Hongdao: "Now let's see if Nuojiya and the others dare to look down on others."
Lu Yi didn't spend much energy paying attention to changes in the mobile phone market.
Today, Pinnacle mobile phones are at the top of the entire market.
Don't look at the Honor R1 or HTCG1, which have sold all over the world. Sales exceeded one million in two or three days, which is equivalent to the sales of peak mobile phones in a quarter.
But when it comes to profit, both Honor R1 and HTCG1 are outclassed by Pinnacle phones.
The gross profit margin of Dingfeng Mobile is as high as 52.5%.
15% for Honor R1 and HTCG1 would be good.
It can be said.
The profit of one top mobile phone is equivalent to four Honor R1 units.
so.
Although Honor R1 and HTCG1 have been sold out all over the world, Lu Yi is not envious at all.
in turn.
The ones that should be envied should be the flower factory and the ham sausage electronics.
The time comes on June 22nd.
this day.
The world's attention shifted from flower factories and ham sausage electronics to the North American stock market for a short time.
Just today, the North American stock market plummeted across the board, and more than 90% of listed company stock prices experienced a high correction at the same time.
this day.
The Dow fell 1.37%, the S&P fell 1.29%, and the Nasdaq fell 1.07%.
In the past, under the cover of the Wall Street gang, ordinary people were not very sensitive to the subprime mortgage crisis.
Although there has been an undercurrent in the stock market, and the stock prices of many listed companies have begun to fall, they have not fallen across the board like today.
This time.
Even the insensitive people were a little panicked.
Is a stock market crash coming?
If we say that in February, the subprime mortgage crisis was in the first stage of outbreak.
Then, as the stock market pulled back from highs across the board on June 22, the subprime mortgage crisis began to move towards the second stage of the "diffusion stage."
In the first stage, Wall Street can still take cover and buy some time for its own escape.
So as the crisis transitions to the second stage, Wall Street, no matter how powerful it is, cannot cover it up.
No.
On July 10, Standard & Poor's lowered its rating on subprime mortgage bonds.
As soon as the news came out, the global financial market was shocked!
For a while.
The words "Financial crisis is coming" have appeared frequently in major media.
In the North American financial market, the shock is even greater.
Many celebrities have publicly declared that the financial crisis caused by the subprime mortgage collapse will be more terrifying than the North American Great Depression of the 1930s.
During the period from 1929 to 1933 in the last century, there was an economic crisis that originated in North America and later spread to the entire capitalist world, including North America, Eagle Country, Gaul, Hans and Island Countries and other capitalist countries.
The Great Depression of this period not only led to long-term mass unemployment, but also changed social relations, destroyed the ruling government, helped the Nazi Party come to power, and ultimately led to the outbreak of World War II.
For a while.
People in North America are panicked.
Many people even bluntly said that this time the subprime mortgage crisis will once again trigger a global economic depression, leading to the outbreak of World War III.
have to say.
These remarks are too alarmist, but many people agree with them.
Even to the point of being very popular.
It’s July 19th.
Executives at Bear Stearns, one of the five largest investment banks in North America, said that two of its hedge funds are on the verge of collapse.
As soon as the news came out.
Panic is spreading and spreading.
August 1st.
Macquarie Bank stated that investors in two of its high-yield funds faced losses of 25%.
August 2nd. 803 Hans Industrial Bank announced a profit warning, followed by an estimated loss of 8.2 billion euros.
Because one of its assets is the Rhineland Fund with a scale of 12.7 billion euros, and the bank itself is slightly involved in the North American real estate subprime mortgage market business, it suffered huge losses.
The Central Bank of the Republic of Hans convened banking peers across the country to discuss a comprehensive plan to save the Industrial Bank of the Republic of Hans.
August 3rd.
Bear Stearns said the North American credit market is in its worst state in 20 years.
For a while.
European and American stock markets plummeted across the board.
Four days later.
That is August 6th.
North American Mortgage Investment Company, the tenth largest mortgage lender in North America, officially filed for bankruptcy protection with the court, becoming another large mortgage lender in North America to file for bankruptcy after New Century Financial Corporation.
Two days later on August 8th.
Bear Stearns, the fifth largest investment bank in North America, announced the collapse of two of its funds, also due to the subprime mortgage crisis.
Subsequently.
Citigroup, Merrill Lynch, JPMorgan Chase, UBS, etc. have successively suffered huge losses.
August 9th.
BNP Paribas, the largest bank in Gaul, announced the freezing of three of its funds, which also suffered huge losses due to investments in North American subprime mortgage bonds.
The move caused European stock markets to plummet, and metal crude oil futures and spot gold prices to plunge sharply.
For a while.
The North American subprime mortgage crisis, like a scourge, is likely to sweep across the world. .