CSC(SH:601066) Zheng Quan Shi Bao Wang·2025-02-27 23:45Core Insights - The global smartphone market is expected to see a reduced decline in 2023, with a potential rebound in 2024 driven by the integration of AI large models and smartphones, which may initiate a new replacement cycle [1] Industry Trends - The combination of large models will drive intelligent upgrades, with cloud-hybrid solutions expected to remain mainstream for a period [1] - The lightweighting of large models and hardware upgrades will support more powerful local AI model operations [1] - Operating systems empowered by AI will trend towards personal assistant-like interfaces [1] Competitive Landscape - The limitations of "stacked hardware" competition are likely to be broken, with large model capabilities determining profit distribution, giving smartphone manufacturers significant bargaining power [1] - AI smartphones with high computing power and local deployment of large models are expected to see rapid sales growth, contributing to an increase in smartphone value [1]