重回主航道，OPPO做对了什么?

Core Viewpoint - The article discusses OPPO's journey in the semiconductor industry, particularly its chip development initiative, Zheku, which was launched in 2020 but was ultimately terminated due to market challenges and the need for better cash flow management. The narrative emphasizes the importance of user experience and long-term competitiveness in the smartphone market, highlighting OPPO's strategic pivot back to core business after the setback [1][2][4]. Group 1: Zheku's Development and Termination - Zheku was established in 2020 as part of OPPO's self-developed chip initiative, named after the Mariana Trench, indicating the challenges ahead [1]. - Over two years, Zheku released several products, including the NPU "Mariana X" and Bluetooth audio SoC "Mariana Y," but the initiative was halted in mid-2023 due to declining smartphone sales and unsustainable R&D costs [1][2]. - The decision to terminate the chip development was seen as a necessary move for OPPO to maintain healthier cash flow and enhance its risk resilience [1]. Group 2: Market Recovery and Strategic Focus - Following the dissolution of Zheku, OPPO launched the Find X7 series, featuring a SoC co-developed with MediaTek, which led to a rapid recovery in market share, reclaiming the third position in the domestic market by Q1 2023 [2]. - OPPO's ability to quickly regroup and return to its main business path serves as a reference for other industry players struggling between innovation and survival [2]. Group 3: Long-term Strategy and User Experience - The smartphone market has seen a decline in shipment volumes since 2017, with longer replacement cycles leading to increased market concentration among major brands [4]. - OPPO's approach to chip development was driven by the need for long-term competitiveness rather than short-term gains, emphasizing that chip production is a means to enhance user experience rather than an end goal [4][6]. - The company focuses on system integration, where multiple technologies work together to meet user needs, rather than merely producing components [4][6]. Group 4: Innovation and Market Positioning - OPPO has adopted a systematic approach to innovation, continuously iterating on hardware to improve user experience, as seen in the Find X8 Ultra's camera system [6][9]. - The Find N5 foldable phone achieved a record low thickness of 8.93mm, showcasing OPPO's commitment to pushing technological boundaries and enhancing user experience [7][9]. - OPPO's market share in the premium segment (over $600) ranks among the top three globally, with significant presence in the $400-$500 range in Mexico, indicating strong brand positioning [9].