Zhi Tong Cai Jing·2025-12-17 05:56Core Viewpoint - The global consumer electronics market is expected to experience structural differentiation in 2025, with traditional categories slowing down and new AI-driven devices like AI smartphones, AIPC, and AI glasses gaining traction. The industry is shifting from product competition to ecosystem building focused on overall experience [1]. Industry Data Tracking - In Q3 2025, global smartphone shipments are projected to be approximately 323 million units, reflecting a year-on-year growth of 2.6%. In contrast, China's smartphone market is expected to see a slight decline of 0.5%, with approximately 69 million units shipped. Innovations such as AI and foldable screens are key drivers for high-end upgrades [1]. - Global PC shipments are anticipated to grow by 9.4% year-on-year in Q3 2025, reaching 76 million units, driven by the end of Windows 10 support and a transition to AIPC [1]. - Global tablet shipments are expected to reach 40.04 million units in Q3 2025, marking a year-on-year increase of 5.1%, achieving growth for seven consecutive quarters [1]. - The global wearable watch market is projected to remain stable in Q3 2025, with shipments increasing by 3% to 54.6 million units. The average selling price is expected to rise by 9% year-on-year, indicating a shift towards higher-end products [1]. Industry News - On December 2, 2025, Samsung Electronics will launch its first tri-fold smartphone, Galaxy Z TriFold, in Seoul. Huawei will release its new flagship foldable phone, Mate X7, on December 11, 2025 [2]. - Alibaba's Quark AI glasses S1 will begin pre-sales on major e-commerce platforms on October 24, 2025, with shipments starting in early December. On December 3, 2025, Li Auto will unveil its groundbreaking smart terminal product, the Livis AI glasses, during its "Ideal Technology Day" event. Google will also introduce a prototype of its AI glasses featuring the NanoBanana image editing capability on December 9, 2025 [2]. Sector Tracking - Over the past month, the consumer electronics index has outperformed the CSI 300 index by 0.74 percentage points but underperformed the electronics index by 1.60 percentage points, with a decline of 2.08% for the consumer electronics index compared to a decline of 0.48% for the electronics index and 2.82% for the CSI 300 index [3]. - Over the past year, the consumer electronics index has outperformed the CSI 300 index by 20.93 percentage points but underperformed the electronics index by 3.09 percentage points, with a year-on-year increase of 35.28% for the consumer electronics index, 38.37% for the electronics index, and 14.35% for the CSI 300 index [3].