A global leader in electronic learning products from infancy through toddler and preschool and the world's largest manufacturer of cordless phones.

Telephone Speakers Reverse Auction

Cordless Phone Speakers

This was a critical component and there were only 3 qualified and incumbent suppliers. All 3 suppliers came from Southern China.

Approximately RMB 4.32 Million

July 2016

There were 3 similar models to source and buyer decided to group them into one lot. The winner with the lowest total price got awarded all 3 items. The intention was to increase competition.   Bidding opened for 30 minutes with automatic extensions during the last 2 minutes. Suppliers saw their Ranks only. 

The auction lasted 38 minutes, with 42 bids submitted. Historic price was RMB 4,321,066.15, and winning supplier bedded  RMB 3,298,133.48 for the whole lot. A great success despite the few number of suppliers that were able to participate.