資通訊產業的投資分析：以大型契約製造企業為例

台灣的資通訊(ICT)產業在全球的產業價值鏈中一直占有絕對的競爭優勢，且扮演著舉足輕重的角色。近年來，中國大陸及東南亞鄰近國家，挾著人口紅利的優勢，以低廉的人力成本進軍台灣最擅長的代工市場，因此讓國際品牌商有了更多議價能力及選擇機會來挑選其所需的代工廠商，在此同時也造就了市場上的價格競爭異常激烈，獲利進入了所謂毛三到四、保一保二的微利時代，使得台灣廠商在經營上面臨重大挑戰。本研究從3C產品代工、新技術的研發與營運策略的改變來探討筆電代工廠在產業步入成熟期後段及進入無法逆轉的衰退期，面對營收成長與獲利見底的雙重壓力下，如何克服經營上的挑戰，進行組織優化與轉型，並運用其硬體優勢及跨領域的專業知識，搭配軟體與服務，找出可以提高企業附加價值的方法與跳脫代工框架的新獲利模式。從研究結果得知，台灣的ICT在產業升級與轉型上，策略佈局的相當完整。利用在代工本業上累積多年的經驗來改善流程與管控成本，將紅字接單的生意盡可能做到黑字出貨。在新技術的研發上，積極與Intel 及微軟合作，除了高成熟度的PC 類產品外，更將觸角延伸至手機、平板、車用電子與尚屬萌芽期的運動、醫療相關的穿戴式產品，透過系統整合與異業結盟之方式將高成熟度產品現有(舊)技術之再利用，扶植(新)技術含量高之創新產品，建構企業事業之第二條S成長曲線，為次世代的產品做鋪路的動作，避免在下一個世代中被淘汰出局。然而，如何透過併購亦或是轉投資之方式，掌握可模組化之關鍵技術並將其包裝成可以授權之要素品牌以提升獲利空間，擺脫低毛利之宿命，這是個相當值得研究與探討的議題。

關鍵字

系統整合；異業結盟； S成長曲線；併購；轉投資

並列摘要

In the global industrial value chain, Taiwan’s ICT industry played a pivotal role and always had an absolute competitive advantage. In recent years, the neighboring countries in mainland China and Southeast Asia, taking advantage of the demographic dividend, have entered Taiwan’s best-selling foundry market with low labor costs. As a result, international brands have more bargaining power and have the opportunity to choose what they need. The foundry makers at the same time also created an extremely fierce price competition in the market. Profitability has entered the era of meager profit, which is called “three to four” and “guaranteeing one, guaranteeing two,” and has caused Taiwanese companies to face major challenges This study explores laptops and foundries from the perspective of 3C product OEMs, new technology research and development, and changes in business strategies. After the industry enters the mature stage and enters an irreversible recession period, it faces bottom line growth and profitability. Under the dual pressure, how to overcome operational challenges, optimize and transform the organization, and use its hardware advantages and cross-domain expertise to collaborate with software and services to identify ways to improve the added value of the company and to replace the OEM framework new profit model. According to the study results, the strategic layout of Taiwan's ICT is quite complete in terms of industrial upgrading and transformation. Using the experience accumulated in the foundry industry for many years to improve the process and control costs, the business of the Scarlet Receipt Order was shipped as black as possible. In the development of new technologies, it actively cooperated with Intel and Microsoft. In addition to high-level PC products, it also extended its reach to mobile phones, tablets, automotive electronics, and the budding sports and medical related wearable products. , Reuse the existing (old) technologies of high-mature products through system integration and alliances with different industries, foster (new) innovative products with high technological content, and construct the second S growth curve of the enterprise business for the next generation the product is paving the way to avoid being eliminated in the next generation. However, it is worth studying and exploring how to acquire key technologies that can be modularized through mergers and acquisitions or transfer of investment, and package them into brand elements that can be licensed to improve profitability and get rid of the fate of low margins. Issues.