Vision Pro came out soon, its "high imitation version" also appeared on the market, behind the producer of Yijing virtual is the listed company Emdoor information, as a consumer electronics foundry enterprise, Emdoor information in the field of PC, tablet accumulation is quite deep, but from the financial data, its operating conditions have declined, and its business model relying on outsourcing manufacturers has also been questioned.
From the point of view of the industry, getting involved in virtual reality terminal products may be a key step for Emdoor information to be unsatisfied with the status quo and strive to transform and break through.
"The product logic is universal".
On February 7th, a company called "Yijing Virtual" attracted attention, because it recently launched a VR product that almost replicates the appearance of Vison Pro, the price is only more than 1000 yuan, called Vision SE, according to **evaluation, at present, Vision SE only has a simple display ability, can be connected to mobile phones and other devices*** through web browsing information, and supports VST, that is, the reality picture is captured through the camera and presented in the VR world, but the quality of the picture shot is average.
Regarding the criticism of "Shanzhai Vison Pro", Shi Qing, CEO of Yijing Virtual, believes that "a low-end product to meet the basic needs of everyone to see the best is logical". "It may not be as extreme as Apple's, but it can let ordinary people (603883) feel the new things of this era, and the technology is inclusive. "Dislocation and complementarity define the product at the core. ”
Although E-realm Virtual will be high-imitation Vison Pro characterization of technology inclusive, but the "boss" behind it listed company Emdoor Information may have greater ambitions, Emdoor Information has said that the company is willing to work with partners to promote the development of the MR industry, so that spatial computing and space technology can be implemented in more, different positioning MR products, serve more customers and consumers, and practice the mission of "making cutting-edge technology more approachable".
The launch of Vision SE may be regarded as a breakthrough of Emdoor Information on the product side, although it has a deep accumulation in the field of consumer electronics foundry, but it seems that it is not willing to play the role of a foundry. For a long time, Emdoor information has adopted the ODM foundry model, engaged in the research and development, design, production and sales of electronic equipment such as notebook computers, tablet computers and other intelligent hardware, and the company's product forms are mainly divided into complete machines, motherboards and bulk nesting.
Although the 2023 annual report has not yet been released, as of the third quarter of last year, the company's revenue was 187.2 billion yuan, a year-on-year decrease of about 1208%；The net profit attributable to the parent company was about 95.03 million yuan, a year-on-year decrease of 4442%；As a foundry, its gross profit margin is not high, as of the third quarter of last year was 1824%。
According to the 2023 interim report of Emdoor Information, in the first half of last year, Emdoor Information XR and AIoT products achieved revenue of 3949670,000 yuan, a year-on-year decrease of 5828%, accounting for only 334%。Among them, XR business revenue decreased by 49% year-on-year85%。
Whether the business model is sustainable
From the perspective of the industry, it is not so easy to create a "Huaqiangbei" version of Vision Pro, although Apple products such as Air Pods are easy to find replacements, but in view of the high technical threshold of Vision Pro, it is difficult for other companies to follow suit.
Liang Zhenpeng, a senior industrial economic observer, told the Beijing Business Daily reporter that it is undeniable that Apple's electronic products have a high brand premium, blocking some potential consumers from the door, which also gives high imitation products room to survive, but in the long run, Apple's premium is still supported by scientific and technological strength, and there is still a big gap between the imitator and the original, especially for the new product Vision Pro.
From a technical point of view, Vision Pro is equipped with M2+R1 chips at the same time, in addition to the powerful M2, the new R1 chip supports immersive environments, and its multi-modal processing time is only 12 milliseconds, which is about 8 times faster than the blink of an eye. In terms of display, the inner screen of Apple's Vision Pro is equipped with two 1The 42-inch Sony Micro OLED display has a pixel density of about 3400ppi, has 23 million+ pixels, and can provide binocular 8K-level resolution, which makes the "copycat" version difficult to match.
No matter how far Vision SE can go, Emdoor Information may have to try to transform, in addition to the decline in revenue and profit, its current business model has also been questioned.
Emdoor information has disclosed in the prospectus that in addition to the complete assembly process of the industry's three-proof electronic products is completed by the company itself, the production of other products is completed by the outsourcing factory, so most of the company's production links rely on outsourcing manufacturers to complete. In other words, there are products or processes that cannot be completed by the company, and other companies need to be found to process them on their behalf.
Such a model is not without risk. Emdoor Information has said that if the company can not continue to maintain good management of outsourcing manufacturers, or the existing outsourcing manufacturers are saturated with processing tasks and processing capacity is declining and the company fails to find a replacement manufacturer in time, it will face product quality problems and the risk that orders cannot be delivered on schedule, which will adversely affect the company's overall operation.
Industry observer Hong Shibin believes that in the field of consumer electronics, for most domestic foundries, it is common to become one of the two common ways out of the chain of more big brands or to build their own brands, which is also a necessary measure for enterprises to diversify risks, after all, if there are changes in the customer's product side, such as production reduction and removal from the shelves, the foundry will lose an important profit, not to mention that in the context of the downturn in the consumer electronics market, downstream brands are "thrifty", and upstream foundry enterprises will be under greater pressure.
A reporter from Beijing Business Daily interviewed Emdoor Information on related issues, but did not receive a reply as of press time.
Beijing Business Daily reporter Tao Feng Wang Zhuli.