Sai Di·2025-04-21 08:05Investment Rating - The report does not explicitly state an investment rating for the new generation of smart terminals. Core Insights - The new generation of smart terminals is defined as products that leverage advanced technologies such as artificial intelligence, advanced computing, virtual reality, the Internet of Things, and 5G/6G to achieve autonomous decision-making, efficient computing power utilization, multimodal data processing, interactive experiences, and personalized services [12][15]. Summary by Sections 1. Overview of New Generation Smart Terminals - New generation smart terminals can be categorized into two types: upgraded traditional smart terminals that integrate AI and entirely new forms with unique functionalities [15]. - They are further divided into consumer-oriented and industry-oriented smart terminals, with examples including AI smartphones, AI PCs, and smart industrial terminals [15]. 2. Key Technology System of New Generation Smart Terminals - The technology system is centered around AI, integrating storage-computing, communication, audio-video, sensing, interaction, display, battery, and software/operating systems [41]. 3. Development Status of Key Links in New Generation Smart Terminals - The report highlights the importance of SoC chips, which need to integrate multiple heterogeneous computing units and move towards green and low-carbon development [48]. - AI will increase the demand for memory capacity and bandwidth, pushing for advancements in LPDDR5 memory technology [49]. 4. Relevant Policies for New Generation Smart Terminals - Since the release of the "New Generation Artificial Intelligence Development Plan" in 2017, various policies have been issued to support the development of AI terminals, focusing on innovation, integration, and application scenarios [70]. 5. Challenges Facing the Development of New Generation Smart Terminals - The industry faces hardware performance bottlenecks, security risks, and a lack of standards, which complicate the promotion and integration of AI capabilities in terminals [80]. 6. Recommendations for the Development of New Generation Smart Terminals - The report suggests accelerating core technology research, building an AI application ecosystem, and establishing industry standards to enhance safety and regulatory frameworks [85][88].