Zhi Tong Cai Jing·2025-07-30 07:33Core Viewpoint - The report from Dongfang Securities highlights the growing focus of telecom operators on AI terminals, particularly in the smart home sector, which is expected to drive growth opportunities in the industry [1][2]. Group 1: Telecom Operators' AI Terminal Development - Leading telecom operators are continuously launching AI terminals such as mobile smart screens, showing impressive product growth [1]. - In March 2025, China Unicom and ZTE jointly released a series of innovative AI smart home terminal products, including smart screens and AI cameras [1]. - In May 2025, China Telecom upgraded its Tianyi AI central screen to serve as a comprehensive AI life assistant, indicating strong competitive advantages in the smart home business [1]. Group 2: Market Growth and Sales Data - The market for mobile smart screens, represented by China Mobile, is experiencing robust growth, with a projected retail volume of 254,000 units in 2024, reflecting a 65% year-on-year increase [2]. - The industry is expected to maintain rapid growth as telecom operators increase their investments in home AI terminals [2]. Group 3: AI Model Investments and Product Offerings - Telecom operators are investing heavily in AI models to enhance the intelligence of their terminals [3]. - China Mobile showcased its JiuTian Basic Model V3.0 at the 2025 World Artificial Intelligence Conference, while China Telecom introduced its self-developed Starry Sky Model system, enhancing the functionality of its terminal products [3]. - Future product promotions and subsidy policies from telecom operators are anticipated to improve the penetration of AI terminals in home settings [3].