华勤技术(603296.SH)：存储芯片的价格波动对公司整体的利润水平基本没有影响

Core Viewpoint - The company indicates that fluctuations in storage chip prices do not significantly impact overall profit levels due to the nature of its procurement strategy [1] Group 1: Industry Outlook - The mobile phone industry is expected to face pressure, with an anticipated overall decline of approximately 10% year-on-year by 2026 [1] - Despite the industry downturn, the company observes an acceleration in the launch speed and diversification of client models, as well as an increase in ODM penetration, which may mitigate some of the negative impacts [1] Group 2: Business Segments - The wearable business is less affected by rising storage prices, with a continuing trend of brand clients replacing long-tail white-label products [1] - The company projects over 30% revenue growth in the wearable segment by 2026 [1] - Overall, the smart terminal segment (including mobile phones and wearables) is expected to maintain steady growth [2]