Perseverance Pays Off
One of the world's leading electronic manufacturing companies has certainly lived up to its Chinese name. Ngai Lik means perseverance in Chinese, and Ngai Lik Industrial Holdings Ltd has definitely persisted over the past 29 years.
During this time, Ngai Lik has become the world's largest manufacturer of CD-related audio products with a product range encompassing CD and MP3 players, DVD players and recorders, LCD TVs and portable jukeboxes.
Ngai Lik has achieved its remarkable success by targeting already accepted technology at the mass-market level and avoiding the high cost of cutting-edge product design and development.
The company employs more than 30,000 workers, and is highly vertically integrated to minimise material costs, secure and maintain material supply and meet customers' stringent requirements in terms of qualit and price.
Several critical elements govern Ngai Lik's product strategies:
Listed on the Hong Kong stock exchange since 1992, Ngai Lik plans to capture as much of the global market as it can handle but it is also very discerning in selecting new customers.
The number of international customers is shrinking due to mergers, acquisitions and liquidation, so Ngai Lik selects clients with strong finances and good potential for future growth.
Market competition has also seen more and more chain stores and retailers buy direct from manufacturers, encouraging Ngai Lik to establish direct relationships with major stores.
Ngai Lik's effective marketing is formulated on the basis of competitive advantages in several key areas:
Since 1976, Ngai Lik has been re-investing heavily in new production plants, procuring more sophisticated and automated manufacturing equipment and machinery and hiring more highly experienced staff.
The company is proud that it has surpassed its leading Japanese rivals and become the world's biggest manufacturer of CD-related products in terms of quantity.
However, Ngai Lik is determined to persevere in future and remains fully committed to further growth and enhancement of its business.
Electronics Trading Ltd