On August 16, Coolpad held the channel conference of COOL M7 in Shenzhen. In the past two years, Coolpad, which has been mired in the quagmire, has been struggling with various rumors. However, since Liu Jiangfeng took office, Coolpad has been seeking a breakthrough in change, committed to building a new quality system, establishing industry-leading quality standards, while implementing the boutique strategy, and striving to create mobile phones more in line with the actual needs of young consumers. The new COOL M7 launched by Coolpad with the theme of "never forget the original intention, forge ahead" has changed its appearance, photography and independent UI, striving to get rid of the shadow of LeEco and rise again.

Liu Jiangfeng, CEO of Coolpad Group

In order to open up a new market and strive to prefer Coolpad's decline in the past two years, COOL M7 has made breakthrough innovations in appearance, photography and UI experience. Although it still focuses on the offline market, it is no longer dependent on the operator market to shift its position to the market for young people.

In terms of appearance, the design of LeTV mobile phones has been redesigned. The overall design of LeTV mobile phones is relatively smooth, with an integrated ultra-thin metal body of 6.9mm. The grip feel will be improved compared with the previous COOL series products. COOL M7 has launched two colors, matte black and rose gold.

Li Jiaqi, Product Manager of Coolpad JUI

The biggest change of Coolpad is that it no longer relies on LeEco's EUI operating system. This time, COOL M7 adopts a new independent UI system Journey UI, which is inspired by the perfect combination of light and geometry. In addition, COOL M7 is also equipped with Coolpad, a patented touchpad created by Coolpad, which can be used more quickly with the new UI design.

In terms of configuration, COOL M7 is equipped with Qualcomm Snapdragon 625 processor, 5.5 inch FHD high-definition large screen, the screen adopts the third generation Corning glass, and has eye protection mode. 13 million front camera+12 million rear camera. Built in 3200mAh capacity battery, supporting high pass fast charging.

Zhang Ke, Senior Vice President of Coolpad China

In terms of price, the retail price of Coolpad COOL M7 (4GB+64GB) is 2699 yuan. It will be sold online and offline on August 26, and the price will be unified nationwide.

In addition, after the meeting, Coolpad CEO also accepted questions from the media and responded positively to Coolpad's fund shortage. Kupai once announced that, based on the preliminary assessment of the Group's unaudited comprehensive management accounts, the operating revenue of Kupai as of July 31, 2017 was about HKD 2.716 billion (about RMB 2.318 billion), down about 52% year on year. Moreover, the announcement indicates that the Group's current assets have been lower than its current liabilities, and the pressure on debt repayment has increased in the near future. To make matters worse, in July, Ping An Bank sued Coolpad, demanding to repay 80 million yuan in advance, which also made the operation of Coolpad more thorny.

Liu Jiangfeng said that he was very helpless. "As we all know, Coolpad is very difficult to fund this year, because of its relationship with LeEco, the bank will only repay the funds this year." Therefore, Coolpad could not even collect the materials and supply chain funds for the expected shipment of 500000 units of COOL M7. In the face of the shortage of capital chain, Liu Jiangfeng said that in fact, there is no lack of a way out for Coolpad mobile phones. "On the one hand, the bank is still trying to obtain loans, and on the other hand, we have a land resource reserve of (value) 10 billion yuan." "In fact, only a few hundred million yuan is needed to revitalize the company".

"There are contacts in real estate and industry. I am the CEO who is only responsible for the operation. The specific shareholder has not yet been determined. The surname of (Coolpad) Liu, Wang and Li are unknown." But Liu Jiangfeng is the CEO of Coolpad Group after all. In terms of land and real estate sales, the Board of Directors still needs to pass, but the Board of Directors has different opinions at present, "Half a year ago, we said to sell some land to realize and revitalize the company, but the board of directors failed to pass."

Although Liu Jiangfeng has made great efforts in Coolpad, the future of Coolpad is still uncertain. In order to reduce the operating costs of Coolpad, Coolpad has terminated the contract with nearly 300 new graduates previously recruited. The total number of employees of Coolpad has been reduced to less than 3000, almost half. "If I had enough foresight, I would have started to lay off employees long ago, knowing that today is the case. I didn't expect that the funds would be so difficult."

As for the overall annual goal of Coolpad this year, Liu Jiangfeng said that it is hard to make it clear that Coolpad is relying on the team to support the enterprise, and shareholders are too busy. The ultimate fate of Coolpad will probably depend more on its operation in the capital layer in the coming months, whether it sells land, whether LeTV sells Coolpad shares, and whether new funds are incorporated, all of which are closely related to the fate of Coolpad.

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