十倍体量差，千里追击战：影石为何敢硬刚大疆？

Core Viewpoint - The article discusses the intense price war between DJI and Insta360, highlighting the competitive dynamics and marketing strategies employed by both companies in the smart hardware sector [2][4][5]. Group 1: Price War Dynamics - DJI initiated significant price cuts on popular products, with reductions reaching up to ¥1500 for the Mini 4 Pro and ¥950 for the Action 4, leading to consumer backlash from those who purchased at full price [5][6]. - Insta360's founder, Liu Jingkang, humorously acknowledged DJI's price cuts, suggesting that their actions may have influenced DJI's decision, and offered incentives for customers who purchased DJI products during the discount period [4][7]. - The competition has escalated as both companies seek new growth opportunities in each other's core markets due to saturation in their primary segments [5][19]. Group 2: Market Position and Growth Opportunities - Insta360 has seen its market capitalization rise significantly since its IPO, reaching over ¥1100 billion, but faces growth limitations in the panorama camera market, which is projected to grow from ¥5.03 billion in 2023 to ¥7.85 billion by 2027 [17][19]. - The global drone market presents a more promising opportunity, with forecasts predicting growth from $26.12 billion in 2025 to $40.56 billion by 2030, indicating a compound annual growth rate of 9.2% [23]. - Insta360's entry into the drone market is supported by its existing technology in imaging systems and smart algorithms, allowing for a more seamless transition into this new segment [24]. Group 3: Competitive Strategies - Both companies are expanding their marketing and sales efforts, with DJI increasing its market team and Insta360 ramping up advertising budgets to capture market share [15][19]. - The competition has extended beyond products to include pricing, channels, and talent acquisition, with Insta360 hiring former DJI employees to strengthen its sales strategy [15][19]. - The financial impact of the price war is evident, with Insta360's revenue growth of 51.17% in the first half of 2025, but a minimal increase in net profit, indicating pressure on profit margins due to increased spending on R&D and marketing [34][36]. Group 4: Future Outlook - The ongoing price war is expected to evolve into a competition focused on ecosystem integration, AI capabilities, and user experience, pushing both companies to innovate and improve their offerings [37]. - While the immediate effects of the price war may be challenging for smaller players like Insta360, the long-term outcome could lead to better products and services for consumers [38].