AI重构消费电子产业链 行业进入结构性复苏新周期

Core Insights - The surge in Apple's stock price, driven by the success of the iPhone 17 series, has led to a market capitalization exceeding $4 trillion, with a cumulative increase of over 30% since mid-2025 [1] - The consumer electronics sector in China has also shown remarkable performance, with the CSI Consumer Electronics Index rising over 61% year-to-date, and key players like Industrial Fulian and Zhaoyi Innovation seeing stock price increases of over 280% and 126% respectively [1] - The global consumer electronics market is entering a new recovery cycle, projected to reach $1,153.7 billion by 2030, with a compound annual growth rate (CAGR) of 2.8% from 2024 to 2030 [1] Industry Recovery - The current recovery in the consumer electronics industry is characterized as structural and differentiated, primarily driven by AI technology in high-end markets, rather than a broad-based rebound [2] - Companies are witnessing rapid recovery signs, supported by AI advancements and domestic consumption policies in China, with some firms reporting significant revenue and profit growth [2] New Product Innovations - The emergence of AI-driven products, such as AI glasses and in-car computing platforms, is reshaping user interactions and creating new consumption scenarios [3] - AI applications are seen as both a value anchor for industry upgrades and an innovative engine for business growth, enhancing user experience and exploring new market opportunities [3] Supply Chain Evolution - The collaboration model between brands and supply chain companies is shifting from "contract manufacturing" to "co-creation," leading to a restructured value chain [4] - ODM (Original Design Manufacturer) smartphone shipments are expected to account for 43% of global shipments by mid-2025, indicating a transition from scale manufacturing to value creation [5] Future Growth Drivers - AI-native hardware, including AI glasses and wearables, is anticipated to be a core growth point in the upcoming consumer electronics cycle, with the global smart glasses market expected to see a shipment increase of 64.2% in the first half of 2025 [6][7] - The potential for AI glasses to become the next mainstream computing platform is recognized, although challenges such as battery life, comfort, and display quality need to be addressed for widespread adoption [7]