以下文章来源于DT商业观察 ，作者DT商业观察 DT商业观察 . 第一财经旗下年轻态财经商业媒体。关注消费、互联网、电商、文娱、科技、城市等领域，融合媒体和 研究机构的禀赋，厘清趋势和商业间的关系，用年轻化的视角认识商业世界。 编辑丨 张晨阳 封面图源丨华为 通勤路上戴耳机错过报站，运动时总担心耳机飞出去，穿脱衣服一不小心就刮掉 …… 你戴耳机时有 没有遇到过这些小麻烦？ 如今一种新的耳机形态，正在帮你解决这些烦恼，它就是开放式耳机。 它不用塞入耳道，而是通过气传导或骨传导技术传声，既避免了长时间塞耳朵造成的不适感，也减少 了因剐蹭或运动导致的耳机脱落，还能随时感知周围环境的声音。 而在开放式耳机的所有形态中，最亮眼的莫过于像科技饰品般夹在耳廓上的耳夹式耳机。它已经从一 个功能设备，转变为都市人耳朵上的精致配饰，成为 2025 年最流行的 " 办公室皮肤 " 。 耳夹式耳机是如何迅速崛起的？它又是如何在一众开放式耳机中杀出重围的？ 耳夹式耳机成为增长 C 位 来源丨DT商业观察（ID：DTcaijing） 作者丨 林美汕 目前，开放式耳机主要分为三种形态：颈挂式、耳挂式和耳夹式。 其中，颈挂式耳机偏向专业运动 ...

Core Insights - The company is a leading ODM in smart products, providing comprehensive services to major global consumer electronics brands and tech companies, including Xiaomi, Samsung, Huawei, Lenovo, Honor, OPPO, vivo, and Company B [1] - In 2024, the company achieved a revenue of 46.38 billion yuan, a year-on-year increase of 70.6%, with a CAGR of 36.0% from 2019 to 2024; however, the net profit attributable to shareholders decreased by 17.2% to 501 million yuan [1] - For the first three quarters of 2025, the company reported a revenue of 31.33 billion yuan, a year-on-year decline of 10.28%, while the net profit attributable to shareholders increased by 17.74% to 507 million yuan [1] Business Segments - The AIoT business is growing rapidly, with significant performance in smartwatches and AI glasses; the smartwatch series has surpassed 10 million units in cumulative shipments, and the company is expanding into the medical wearables sector [2] - In the smart glasses segment, the company is deepening its engagement with top international clients and has launched new products, including children's glasses, while focusing on key technologies such as human factors, battery life, and lightweight design [2] - The company has successfully developed and delivered multiple AIPC products, enhancing its capabilities in ARM/X86 platform development and supply chain management, positioning itself to benefit from the rapid growth in AIPC shipments [3] Financial Projections - Revenue projections for 2025-2027 are 45.84 billion, 54.15 billion, and 65.91 billion yuan, with year-on-year growth rates of -1.16%, 18.12%, and 21.71% respectively; net profit projections for the same period are 651 million, 897 million, and 1.25 billion yuan, with growth rates of 29.92%, 37.81%, and 39.18% respectively [3] - The company is expected to benefit from new product lines such as AI glasses and AIPC while maintaining its core business [3]

Core Viewpoint - The upcoming launch of the Xiaomi 17 Ultra is set to redefine mobile imaging with significant upgrades in performance, battery life, and innovative optical technology through its collaboration with Leica [1][3][12]. Group 1: Product Launch Details - The Xiaomi 17 Ultra will be officially launched on December 25, 2023, alongside the Huawei nova 15 series and Honor WIN series [1]. - The device is positioned as a high-end flagship, with a price increase expected from the previous model, starting around 6,999 yuan [12]. Group 2: Imaging Technology - The Xiaomi 17 Ultra will be the first mobile device to feature a Leica APO-certified telephoto lens, marking a significant advancement in mobile photography [3]. - The device will utilize a new optical system that enhances light intake and color accuracy while maintaining a slim profile [5]. - The main camera will feature a 1-inch sensor with dual analog gain HDR technology, providing exceptional dynamic range and performance in challenging lighting conditions [10]. Group 3: Performance and Features - The device will be powered by the Snapdragon 8 Gen 2 chip, offering a 25% performance increase and a 30% improvement in energy efficiency compared to its predecessor [8]. - It will include a 7,000mAh battery with 100W wired and 80W wireless fast charging capabilities, ensuring top-tier battery performance [8]. - The Xiaomi 17 Ultra will also support satellite communication, enhancing connectivity in remote areas [12]. Group 4: Design and User Experience - The design will feature a circular camera module and a ceramic body with sapphire glass, combining aesthetics with durability [5]. - The display will utilize new super pixel technology to achieve visual clarity surpassing traditional 2K screens while balancing power consumption [8].

新浪科技讯 12月18日上午消息，近日，高德开放平台推出"智能穿戴解决方案"，以"数据底座+AI空间 智能+生态协同"的技术架构破解行业痛点。近年来，随着AIoT技术的迅猛发展，智能穿戴设备逐渐成 为用户日常出行与生活的重要入口。然而，行业长期面临交互不便、算力受限、续航短、生态割裂等痛 点。为破解这些难题，高德开放平台正式发布面向智能手表与智能眼镜的解决方案，以推动智能穿戴设 备迈向"更方便、更安全、更智能"的新阶段。 据悉，高德开放平台三大底层能力构建支撑体系：一是基于多年积累的全量出行数据与自研高精导航引 擎，保障厘米级定位与分钟级路况更新；二是"小高老师"AI空间智能体，可理解用户所处场景、预测出 行需求，实现主动提醒与守护；三是深度整合打车、本地生活等服务，打造"出行即服务"的全链路体 验。 目前，高德智能手表解决方案已成功落地小米、荣耀、优创亿等品牌或解决方案厂商。在智能眼镜领 域，高德已与夸克、Rokid、雷鸟创新、逸文科技、星纪魅族等达成战略合作，进一步拓展应用场景。 责任编辑：江钰涵 责任编辑：江钰涵 新浪科技讯 12月18日上午消息，近日，高德开放平台推出"智能穿戴解决方案"，以"数据底座 ...

Core Insights - Apple is entering the foldable smartphone market, which has been growing rapidly, but has faced challenges in terms of consumer adoption and product differentiation [1][3][10] - The design of Apple's foldable iPhone is expected to resemble Huawei's Pura X, focusing on a compact "small foldable" form factor [1][3] - The issue of screen creasing remains a significant hurdle for Apple, despite years of research and development [5][7][10] Group 1: Market Dynamics - The foldable smartphone market has seen significant growth, but small foldable devices have struggled to gain traction, often being overshadowed by larger foldable models [11][16] - In China, small foldable shipments are projected to be less than half of those for large foldables in 2024 [11][16] - The lack of functional differentiation between small foldables and traditional smartphones has hindered their market performance [11][16] Group 2: Technical Challenges - Apple has been working on foldable technology since at least 2011, focusing on addressing the creasing issue through various innovative hinge designs [5][7][9] - Despite numerous patents filed, Apple has yet to achieve a satisfactory solution to the creasing problem, which has delayed the launch of the foldable iPhone [9][10] - The complexity of the design and the need for precision in manufacturing have contributed to the prolonged development timeline [7][9] Group 3: Competitive Landscape - Competitors like Samsung, OPPO, and Huawei have already established their presence in the foldable market, with varying degrees of success [19][21] - Some manufacturers, such as OPPO and vivo, have already scaled back their small foldable offerings due to poor sales performance [20][21] - Huawei's strategy has shifted towards larger foldable devices, indicating a potential market trend away from small foldables [22][26] Group 4: Consumer Perception - Consumer expectations for smartphones remain heavily focused on functionality, with aesthetic appeal being a secondary consideration [23][26] - Apple's previous product, the iPhone Air, faced criticism for prioritizing design over functionality, leading to disappointing sales [29][31] - The market response suggests that simply having a foldable design may not be enough to drive consumer interest if it does not offer significant functional advantages [19][23]

在这场盛会上，深圳各区集体发力，瞄准新赛道、拥抱新机会，向全球投资者抛出橄榄枝，招引一批优质项目，呈现出"方向准、诚意足、成果丰"的鲜明 特点。 ——靶向发力，各区招商各有专攻。招商引资，方向是关键。深圳各区深谙"有所为有所不为"之道，立足自身资源禀赋与产业优势，精准锚定招商方向， 在差异化发展中抢占产业高地，展现出推动产业跃升的强烈主动性，在金融、人工智能、高端装备、新能源汽车等赛道"各显神通"，形成了"各区有专 攻、全域齐发力"的招商格局。 ——诚意加码，真招实策引凤来栖。欲引金凤凰，先栽梧桐树。深圳各区拿出真招实策，从资金支持、空间保障到环境优化，全方位打造营商沃土。同 时，各区也抓住全球招商大会客商云集的契机，开展城区营销，将企业家请到辖地走走看看，企业家们亲身感受到扑面而来的发展机遇，更加坚定"投资 深圳"的信心。 ——硕果盈枝：全球资本青睐鹏城。各区"盆满钵满"、引资规模再创新高，一批投资规模大、科技含量高、发展潜力足的优质项目相继落地，一大批世界 500强、央企国企、上市公司、专精特新"小巨人"企业成为招商主力，战略性新兴产业与未来产业项目占比显著提升，彰显了深圳产业生态对全球资金的 强大吸引力 ...

Core Insights - The Shenzhen Global Investment Conference has attracted global capital attention, showcasing Shenzhen's strong appeal and development vitality as a core engine of the Guangdong-Hong Kong-Macao Greater Bay Area [1] Group 1: Investment Strategies by Districts - Each district in Shenzhen has tailored its investment strategies based on its resource endowments and industrial advantages, focusing on differentiated development to seize industrial opportunities [2] - Futian District is concentrating on high-end service industries, attracting key projects in finance and circular economy, including the Santander Bank Shenzhen branch and China FAW R&D Institute [2] - Luohu District has launched the "War New Leap" plan, targeting new enterprises in AI, life health, and digital creativity, providing precise support for interested companies [2] - Nanshan District is leading in technological innovation, focusing on core technology and high-end services, with projects like the China Electronics Spring Research Institute enhancing its position in integrated circuits and advanced computing [2][4] - Longgang District is advancing an "All in AI" strategy, signing major projects in AI and biomedicine, contributing to the development of an AI CITY [4] - Yantian District is leveraging its maritime economy, focusing on port shipping and marine tourism, with a projected marine production value contributing 33.3% to its GDP in 2024 [4] - Other districts like Baoan, Longhua, and Pingshan are also focusing on high-end equipment and new energy vehicles, creating a comprehensive investment landscape [4] Group 2: Supportive Measures for Investment - Shenzhen districts are implementing substantial financial support measures, including the establishment of a 7 billion yuan AIC industry fund in Futian and various financing systems to support enterprises throughout their lifecycle [5] - Luohu District has introduced a "six resource packages" offering financial support ranging from 2 million to 50 million yuan, with capital support accounting for 60% [5] - To facilitate project implementation, Futian has released 234 hectares of contiguous development land and over 2 million square meters of specialized building space [5] - Various districts are optimizing the business environment, with Baoan creating a comprehensive service system and Longgang developing a multi-faceted operational framework to ease enterprise development [7] Group 3: Investment Outcomes - The investment outcomes from the conference have been significant, with districts achieving record-high investment scales, including Futian's 28 signed projects with an intended investment of 95.8 billion yuan [8] - Nanshan secured 34 quality projects with an investment exceeding 100 billion yuan, while Longgang signed 30 key projects with a total intended investment of 75.4 billion yuan [8] - The influx of high-quality enterprises, including 17 Fortune 500 projects in Futian, reflects the strong attraction of Shenzhen's industrial landscape and business environment [10] - Strategic emerging industries now represent a significant portion of the projects attracted, with over 60% in districts like Luohu and Guangming [10]

Core Insights - The African smartphone market is experiencing significant growth, with Omdia projecting a shipment volume of 22.8 million units by Q3 2025, a 24% increase from 18.4 million units in 2024 [1] - Transsion remains the dominant player in the African market, with a market share increase from 50% to 51% and a shipment volume growth from 9.3 million units in Q3 2024 to 11.6 million units in Q3 2025, reflecting a 25% year-on-year growth [1] - However, competition is intensifying, with Xiaomi's shipment volume increasing by 34% and Honor's by 158% in the same period, indicating a narrowing gap with Transsion [2] Market Dynamics - Transsion's revenue from its core mobile business has shown a decline across all major regions, with African revenue dropping from 10.1 billion yuan to 9.651 billion yuan, a decrease of 4.45% [4] - Overall revenue for Transsion's mobile business fell from 31.979 billion yuan to 26.093 billion yuan, a year-on-year decline of approximately 18.4% [5] - The company's market share in Africa decreased from 52% to 47% in Q1 2025, although it rebounded to 51% in Q2 2025 [5] Strategic Initiatives - Transsion is pursuing an IPO in Hong Kong to raise funds primarily for AI technology development, aiming to enhance product iteration and technical capabilities [2][6] - The company plans to leverage AI to address the competitive pressure from brands like Xiaomi and Honor, focusing on local market needs to create new competitive advantages [8] - The IPO is also intended to improve liquidity and enhance the company's international brand image, facilitating global expansion [7] Future Outlook - Despite the strategic focus on AI and IoT, Transsion faces challenges in achieving growth due to intensified competition and the need to balance market share with profitability [10] - The company's core mobile business has been under pressure, with significant revenue declines in both smartphone and feature phone segments [10] - The effectiveness of AI integration and the company's ability to adapt to market demands will be critical for future growth, as the transition from feature phones to smartphones continues in emerging markets [11][12]

Core Viewpoint - The 2026 Future Industries New Materials Expo (FINE 2026) aims to lead global innovation in new materials, emphasizing their critical role in the transformation of high-tech industries in China and worldwide [2][3]. Group 1: Event Overview - FINE 2026 will take place from June 10-12, 2026, at the Shanghai New International Expo Center, featuring a 50,000 square meter exhibition area and over 300 strategic and cutting-edge technology reports [3][7]. - The expo will focus on five common demands in future industries: advanced semiconductors, advanced batteries, lightweight materials, low-carbon sustainability, and thermal management [6][9]. Group 2: Market Opportunities - China has established global influence in sectors such as new energy vehicles, photovoltaics, wind power, lithium batteries, and robotics, creating significant market opportunities for new materials [5]. - The government has identified key areas for breakthroughs in the 14th Five-Year Plan, including embodied intelligence, 6G, quantum technology, and hydrogen energy [5]. Group 3: Event Features - The expo will feature six specialized thematic exhibition areas, including advanced semiconductors, advanced batteries, lightweight materials, and thermal management technologies [9][12]. - FINE 2026 is expected to attract over 100,000 professional visitors and will include 30+ forums with 300+ renowned experts sharing insights on cutting-edge technology trends and investment strategies [7][22]. Group 4: Networking and Collaboration - The event will facilitate direct interactions between over 5,000 end-users and quality investment institutions, promoting face-to-face orders, collaborations, and investment discussions [6][36]. - DT New Materials has a decade of experience and a network of over 200,000 contacts, providing extensive resources for participants [6][50].

Core Viewpoint - The article discusses the challenges and market dynamics surrounding the foldable smartphone segment, particularly focusing on Apple's upcoming foldable iPhone and its potential impact on the market [5][6]. Group 1: Apple's Entry into Foldable Market - Apple has been cautious about entering the foldable smartphone market, missing the rapid growth phase but now appears ready to launch its first foldable iPhone, which is expected to resemble Huawei's Pura X in design [6][9]. - The foldable iPhone has been in development for over a decade, with patents dating back to 2011, primarily focusing on addressing the issue of screen creases [10][11]. - Apple's design approach includes innovative hinge mechanisms and materials aimed at minimizing creases, but the product has faced delays due to technical challenges [14][17]. Group 2: Market Dynamics of Small Foldable Phones - Small foldable phones have struggled to gain traction in the market, with sales in China projected to be less than half of larger foldable models in 2024 [20][26]. - Key issues for small foldable phones include a lack of functional differentiation from traditional smartphones and limited profit margins for manufacturers [20][26]. - The additional components required for small foldable phones, such as hinges and flexible screens, increase production costs, making it difficult for manufacturers to maintain profitability [28][30]. Group 3: Competitive Landscape and Consumer Preferences - The competitive landscape shows that many manufacturers, including OPPO and vivo, have either exited or reduced their focus on small foldable phones due to poor sales performance [30][31]. - Consumer preferences lean heavily towards functionality and performance, with aesthetic design alone failing to justify the higher price points of small foldable devices [32][35]. - Apple's brand strength may allow it to navigate pricing challenges better than competitors, but past experiences with products like the iPhone Air suggest that design alone may not drive sales [37][38].