This is an era when big data looks down on the Internet, the Internet looks down on the software industry, and the software industry looks down on the hardware industry. However, TI made a different sound with the slowly rising stock price:Moreover, the soaring dividend per share of TI increased from 0.49 in 2009 to 1.52, more than doubling.Last but not least, xie bing, senior vice President of global sales and market application of Texas instruments (currently, Chinese people hold the highest position in a top IC company, and their graduation also starts from sales).Each company is looking for something different, and Texas instruments is looking for something stronger, not just bigger. If you look at our cash flow per share over the last five years, we have cagr of 15-16 percent. So what Texas instruments is after is stronger, which is stronger from the technology, from the ability to serve customers, from the generation of cash flow.After watching the above beautiful performance of TI, the evaluation of its high is not too much. In such a good growth momentum, why TI will adjust the distributor strategy? In (I), the macro causes are proposed, and this issue will focus on TI's own causes.1. TI products are not as strong as expected.Steve Anderson of TI said that the professional technology of TI is mainly reflected in three core areas: one is power management, the other is analog signal chain, and the third is sensor or sensing technology. And pack all three together, bringing them all together through wireless connectivity and embedded processing power.It can be said that TI is very comprehensive, but it cannot be said to be the first in many subdivision fields. Admittedly, TI's power management chip is good, but there are local competitions such as MPS/Infenion/NXP/Silergy, etc. In sensors, it cannot surpass Bosch, and it is not as well-known as Broadcom on wireless. Besides ST, it has a large number of competitors embedded. To borrow the words of a senior r & d engineer friend: "TI products are relatively low-end, but the performance is better.As for the new IC company, first of all, it needs to make a single breakthrough, and second of all, in order to meet the needs of the project customers, the so-called baoshan baohai. Therefore, to maintain the market share of TI, more efforts must be made. At the same time, soon entered the era of the Internet of things, sensors wireless embedded in the future of the three imagination space growth plate, in their own products are not so hard, the promotion efforts must go up.2. The printing machine cannot stop.Texas instruments (TI) is a transnational semiconductor design and manufacturing company. With over 100,000 analog IC and embedded processors, the company is unique in that it combines software, tools and the industry's largest sales/technical support team. -- this is TI's positioning of itself.The positioning indicates that TI is a self-established and self-operated wafer factory and sealing factory. If the factory does well, it is a printing machine; if it does badly, it is a baby to worry about.The positioning shows that most of TI's products are simulated. Different from the production outsourcing strategy of digital IC, the simulated IC manufacturer will not Fabless, and the production capacity will become the key to success or failure. Large-scale production capacity, cheap equipment and advanced technology will also have a huge price advantage.TI wafer fab is 300mm: RFAB and DMOS6In China, TI pays special attention to the automotive and industrial fields. These projects are large and stable, but these fatty meats are not unique to TI, and the competition is very big. Besides the relationship and product, price and service support, they are also very important. In particular, orders for such projects can ensure the full load operation of the upstream fabs. Only when the capacity of the fabs is stable can the economic benefits be achieved. Therefore, I believe that TI should pay attention to all the details in these two fields.In manufacturing, big orders are king.Capital is not allowed to decline.As we all know, laomei's capital capacity is particularly outstanding. In 2011, TI's capital market performance after the acquisition of China with 6.5 billion us dollars played a triumphant role, such as the two beautiful pictures at the beginning.Now TI is a giant elephant, with global revenues of $13 billion in 2015. Sustained growth will not be easy, especially in the first quarter of 2016, when a 5% decline was seen.In the first quarter of 2016, the top 20 global semiconductor suppliers saw revenue fall 6 percent from the same period last year, according to IC Insights. It shows that the overall environment is not so good.The pressure on capital is relentless and forward-looking. After a poor start to 2016, if you want to maintain a compound annual growth rate of 24% in dividends, you need to increase revenue and cut expenditure. Under the circumstances of general market performance in the environment, the adjustment of distributor policy is unexpected, but also in reason.As stated in explanation of reason 1 and 2, TI is required to present itself in many cases based on the reasons of its products and market.In 2011, after the acquisition of China, TI has a sales team of more than 2,500 people, which is more than the sales and technical support team of any competitors in the industry. Believe this a few years can have add without decrease only, since oneself person is so much, still rely on what distributor? !Let's take a look at TI's offline and online preparation in recent years, which indicates that TI's dependence on authorized distributors is becoming weaker and weaker.First, look at the offline preparation.Ms. Hu yuhua, President of Texas instruments (TI) China and Dr. Ahmad Bahai, chief technical officer of TI, attended Texas instruments' "thirtysomething, starting from" core ", 2016 Chinese New Year media interview not long ago. 2016 is the 30th year for TI to enter China. In the past 30 years, TI has achieved a lot together with over 18,000 Chinese customers in China. From the initial two employees till now, TI has set up sales and market application branches in 18 cities in China, as well as 4 r&d centers, 1 product distribution center and 1 manufacturing base integrating wafer manufacturing, packaging and testing. TI has done a lot with China in the past 30 years.TI has had a lot of cooperation with China from the perspective of talent cultivation since very early in China. The university plan of TI has expanded the influence of TI products among students. Since 2006, with the transformation of TI products, a new strategic layout has been started to expand the coverage of customers. On the one hand, it established its branches in China, and at the same time began to further localize its talents. In the 18 branches of TI, the managers and employees are basically local. Since 2006, the number of TI branches has increased to 13, and now there are 18 branches in total. These branch companies have set up branches in dongguan, changsha, shenyang, zhuhai and other secondary cities except in big cities such as hangzhou and chengdu. (it has more Office in China than many distributors)Since 2010, TI has established four research and development center in China, is the Beijing, Shanghai, shenzhen and chengdu, research and development in China is also a strategic layout, only for research and development also closer to the market, to develop suitable for customers in China and the Chinese market need, innovative products, to the Chinese customers do have product innovation, and make them achieve success. In addition, TI also has a PDC product distribution center in Shanghai.In 2010, TI had 8,000 customers, and by 2015 it had 10,000 customers. Now it has 18,000 customers in China and 100,000 products. Such success is inseparable from TI's overall sales strategy and China's market layout. In 2015, TI set up a research and development center and a manufacturing center.From the above information, it can be seen at a glance that TI attaches great importance to and CARES deeply about the Chinese market: from the layout in 2006 to today, from cultivating college students who have not yet graduated from the university to building a huge sales network. In addition to the local research and development and storage of deep, so as to achieve research, production and marketing through-train, than the local IC enterprise localization!In fact, what I admire and fear most is that the continuous and huge university plan will improve TI's influence and brand recognition at the source.Second, online preparation.From TI's publicity PPT, online dragon!Focus on TI online purchase channels1. The self-operated e-commerce TI store has a strong technical implementation. The homepage of TI official website is directly visible with obvious drainage.2. E-commerce cooperation: e-alliance, Digikey, Mouser, 3 foreign elections.3. Supported by a professional search engine, supplyframes in other countries and findchips in China. As far as I know, TI is the biggest finalist in Findchips.The influence of TI on the line of engineers is also discussed.1. Some well-known engineer communities in China all have their special topics, and they are recommended: power supply network, China power grid, non-network, 21IC, yunhan BBS \(if you do, how much network marketing determination!)2. Lots of online video teaching and training: power supply network \21IC\ medium power grid. (it doesn't matter if you graduate from college. TI has convenient video teaching.)3. Online design: my own design platform, Webench, supporting development software, Demo board and Chinese specification book are easy to download.Since I started to study the Internet of components in 2012, I have always seen TI in a prominent position. Such a large investment for a long time will send a message: TI is people-friendly, easy to find and easy to use!TI is also working to make TI.com the starting point and the ending point for design engineers as they choose chips for their systems.TI online has achieved this: in 2015, the traffic to the official website TI.com was more than five times that of its competitors.Finally, two points about invisible competitiveness:1. Another explanation of TI is "Training Institute", which means that working in Texas instruments, we are always exposed to the most advanced technology and do not have to worry about falling behind. Endogenous mechanisms are powerful2. TI, 86 years old, has been in China for 30 years. The big data accumulated over the years must be more professional and powerful than many distributors. With the support of big data, everything is under its control.There's a phrase in business schools that says, "you're either going to be the cost leader or you're going to be different." Review the advantages of TI with these two points.Research, production and sales of one - stop let TI cost leadership.The complete product line and high cost performance make TI distinctive.Strong online and offline layout of the formation of a huge joint force, so that the customer "escape can not escape".Internal show: big data and continuous improvement of internal trainingTo sum up, dare to be the first to make adjustments to distributor strategy.In order to write articles, I read a lot of articles about TI. At this time, in my mind, TI is more like a Wolf in the semiconductor industry. Now, the domestic semiconductor catch up, but the first Wolf did not slack, this PK protracted.At the moment, I do not doubt the authenticity and feasibility of this strategy, because after TI prepared so many, the distributor did not leave much value for him, how cruel!thenTI's model is feasible, but can it work?Can others follow suit?It's time to re-examine the capabilities and values of distributors!