华勤技术：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, as it does not engage in direct procurement of these chips [1]. Group 1: Smartphone Industry - The smartphone 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, along with increased ODM penetration, which helps mitigate some of the negative impacts [1]. - The company aims to maintain its leading position in the smartphone ODM sector [1]. Group 2: Wearable Business - The wearable business is less affected by rising storage prices, as brand clients continue to replace long-tail white-label products [1]. - The company expects to grow its wearable revenue by over 30% in 2026 [1]. Group 3: Overall Performance - The overall smart terminal segment, which includes smartphones and wearables, is projected to maintain steady growth [2].