刘靖康阴阳垄断，影石对大疆针尖对麦芒，影像赛道一山不容二虎？

Core Viewpoint - The competition between Insta360 (Yingshi Innovation) and DJI has intensified, with Insta360's chairman Liu Jingkang suggesting DJI's monopoly in a recent social media post, highlighting the rivalry between the two companies in the imaging sector [1][3]. Company Performance - Insta360 holds over 80% of the global market share in panoramic cameras, while DJI has over 70% in consumer drones, indicating a competitive landscape where both companies have significant market power [3]. - After going public in June 2025, Insta360's stock price surged by 536.6%, reaching a market capitalization of 120.7 billion yuan [3][4]. - In Q3 2025, Insta360 reported a revenue of 2.94 billion yuan, a year-on-year increase of 92.64%, with total revenue for the first three quarters reaching 6.61 billion yuan, up 67.18% year-on-year [4]. Competitive Dynamics - DJI has responded to Insta360's market entry by launching its own panoramic camera, the Osmo 360, and has been actively lowering prices to maintain competitiveness [4][5]. - A recent market research report indicated that DJI's market share in the action camera segment reached 66% in Q1-Q3 2025, surpassing GoPro, while its share in the panoramic camera market reached 49% in China and 43% globally [5]. - The rivalry has escalated, with both companies engaging in aggressive marketing and product launches, indicating a shift in the competitive landscape of the imaging industry [6][9]. Market Trends - The drone and imaging markets are becoming increasingly competitive, with new entrants like OPPO and vivo rumored to be entering the drone market, further intensifying the competition against established players like DJI and Insta360 [13]. - DJI has begun to lower prices across multiple product lines in response to the competitive pressure from Insta360, marking a significant shift in its market strategy [14][16]. - The emergence of new competitors and the aggressive strategies of existing players suggest that the imaging and drone markets are entering a phase of heightened competition, which could lead to innovation and growth opportunities [20].