智通财经网·2025-10-13 06:01Core Insights - The first-generation iPhone Fold's hinge price is expected to drop to approximately $70–80, significantly lower than the market expectation of $100–120, which could help Apple reduce costs and enhance profits, potentially reflected in pricing strategies to increase market share [1] - Luxshare Precision is anticipated to join as a new hinge supplier after 2027, indicating potential trends of further price reductions and competition in the hinge assembly sector [1] - The joint venture between Hon Hai and New Nikko is responsible for the folding iPhone hinge assembly and production, with Hon Hai holding a slight majority and leading the direction, capturing a higher order share of about 65% compared to Amphenol's 35% [1] Price Dynamics - The decline in hinge prices is attributed to optimized assembly design and Hon Hai's involvement rather than a significant drop in upstream component costs [1] - Hon Hai's expansion and mass production capabilities have enabled the joint venture to secure a larger order volume [1] Competitive Landscape - Amphenol's lower order share is partly due to its lack of proactive response to Apple's expansion demands, possibly influenced by considerations of absolute and relative returns on investment [2] - The folding iPhone hinge remains a significant trend for New Nikko, but there is a need to reassess its contributions as market consensus may be overly optimistic regarding hinge pricing and profit distribution within the joint venture [2]