消费电子系列跟踪：Rokid发布AR眼镜，华为Mate系列将于下周上市

Investment Rating - The report maintains an "Outperform" rating for the consumer electronics industry [2][14]. Core Viewpoints - The consumer electronics sector is at a turning point driven by AI innovation and the continuous launch of new products by major players [4]. - AI applications are expected to first impact mature consumer electronics like smartphones, leading to an increase in both volume and price [4]. - The introduction of new hardware forms, such as AR and VR products, is anticipated to accelerate innovation in the consumer electronics space [4]. Summary by Sections Industry Performance - The consumer electronics index decreased by 5.0% during the week of November 18-22, while the Shanghai and Shenzhen 300 index fell by 2.6% and the electronics index by 3.3% [2]. - Notable gains were observed in AI terminal stocks, with Guoguang Electric rising by 45.79% [2]. Product Launches - Rokid launched AI+AR glasses, which will be available for sale in Q2 2025, featuring a stylish design, lightweight build (49g), and a price of 2499 yuan [3]. - The glasses support various AI functionalities, including voice-activated ordering and payment, enhancing user interaction [3]. Market Dynamics - The impact of tariffs on the Apple supply chain is deemed manageable, with domestic manufacturers already establishing production capacities in regions like Vietnam and Thailand [5]. - The weighted average selling price of iPhones in the U.S. market has reached $1018, with a significant increase in the proportion of Pro models sold [5]. Investment Recommendations - The report suggests focusing on companies within the Apple supply chain, such as Luxshare Precision, Dongshan Precision, and others, as well as those involved in smart speakers and AIPC industry chains [5].