来源 | 新智元 曾被寄予厚望的苹果AI，似乎已被这个飞速迭代的时代淘汰了。 Siri，作为曾经的语音助手先驱，光环逐渐暗淡。苹果AI的努力在谷歌OpenAI等巨头夹击之下，又显得力不从心。 如今，苹果正通过拆分AI团队，试图重塑组织架构，在这场鏖战中扳回一局。 苹 果 A I 六 年 沉 浮 2018年之前，苹果AI工作分散在公司各个部门。 Siri团队，以及其他与苹果iOS操作系统相关的AI小组，隶属于「软件工程部门」。 硬件团队有自己的AI成员，专注于研发苹果处理器神经引擎等组件。自动驾驶汽车项目，则由一些硬件高管负责。 此外，服务和运营部门也有一些AI相关的团队。 这里，没有专门的iPhone、iPad或Mac团队，这些产品均由产品硬件、软件、服务部门共同开发。 虽看似不合理，但这种按职能，而非业务单元组织的模式，是苹果一直以来的传统。 随着AI在消费设备中的重要性日渐凸显，分散的团队结构逐渐开始拖后腿。Siri从开创性产品逐渐被淘汰，远远落后于亚马逊的Alexa和谷歌助 手。 当时，苹果高管认为，「AI团队组织分散，对公司来说弊大于利」。 为了扭转局面，苹果于2018年从谷歌挖来了AI大咖John ...

Group 1: Future Growth Drivers - The main drivers for future profit growth are the increasing vision problems among the elderly and children, with a focus on the aging population and the rising myopia rates among youth [2][3] - As of 2023, the overall myopia rate among children and adolescents in China is 52.7%, with rates of 35.6% for elementary school students, 71.1% for middle school students, and 80.5% for high school students [2][3] Group 2: Financial Performance - For the fiscal year 2024, the company achieved a revenue of 1,202.82 million yuan, representing a year-on-year growth of 2.29% [5] - The net profit attributable to shareholders was 103.63 million yuan, reflecting a decrease of 19.08% compared to the previous year [5] Group 3: Market Outlook - The global eyewear market is projected to grow from 104.08 billion USD in 2024 to 131.34 billion USD by 2029, with a compound annual growth rate (CAGR) of 4.8% [6] - The Chinese eyewear retail market is expected to expand from approximately 97.86 billion yuan in 2024 to 116.29 billion yuan by 2029, with an estimated CAGR of 3.5% [6] Group 4: Store Expansion and Brand Development - As of December 31, 2024, the company operates 557 stores, including 510 direct-operated and 47 traditional franchise stores [7] - In 2024, the company opened 78 new stores and closed 36, resulting in a net increase of 42 stores [7] - The company has developed 13 proprietary eyewear brands and 4 lens brands, with proprietary lens sales accounting for 58.65% of total lens sales and proprietary frame sales accounting for 65.40% of total frame sales in 2024 [7] Group 5: Smart Glasses Initiative - The company is actively integrating smart technology into its offerings, establishing partnerships with leading smart eyewear brands and enhancing in-store experiences with dedicated smart eyewear sections [4] - A joint venture with Thunder Innovation was established to co-develop smart eyewear products, with the first product launched on January 7, 2025 [4]

AI 眼镜行业 20250412 摘要 Q&A 智能眼镜行业的现状及未来发展趋势如何？ 智能眼镜行业正在经历一系列积极变化，并加速进入大众消费时代。谷歌和苹 果早期的探索虽然未能完全打开市场，但 Meta 与 Ray-Ban 合作推出的 Ray-Ban Stories 解决了许多功能性和重量问题，成为划时代产品。国内市场在最近两 年也呈现出百花齐放的竞争格局。技术创新成果催生代表性作品，继而成为爆 品，推动市场规模快速增长。随着 AI 模型的发展、光学显示技术迭代以及近视 • 博士眼镜自 2019 年起与华为、Rocket、雷鸟创新等智能眼镜品牌合作，截 至 2024 年半年度拥有 530 家门店，计划通过可转债扩展至 700 家以上，主 要布局华南和江西地区，直营店为主，毛利率超 60%，净利率约 10%。 • 明月镜片作为国产镜片龙头，国内市场份额第三，销售量占比 12.4%，销 售额占比 8.9%。过去五年收入 CAGR 为 7.9%，规模净利 CAGR 为 22.5%，毛 利率从 50%升至 60%，净利率从 15%升至 25%，并积极关注智能眼镜前沿技 术。 • 康耐特光学主要面向海外市场，海外收入 ...

Core Viewpoint - The domestic smart glasses, positioned as a budget version of Ray-Ban Meta, have failed to meet expectations in terms of performance and user satisfaction, leading to significant customer disappointment and operational challenges for the company [2][3][8]. Product Launch and Market Context - The launch of the smart glasses by the company was highly anticipated, especially after the success of Ray-Ban Meta, which sold over one million units within a year [2]. - The domestic market for smart glasses is becoming increasingly competitive, with various tech giants and startups entering the space, leading to a "battle of the glasses" in 2024 [2][18]. User Experience and Product Issues - Users have reported multiple issues with the smart glasses, including problems with powering on, hardware defects, and subpar camera quality, which have hindered the overall user experience [5][10][11]. - Many users experienced delays in receiving their products, with some waiting over seven months, leading to frustration and negative perceptions of the brand [11][13]. Technical Challenges - The company underestimated the engineering and supply chain complexities involved in producing smart glasses, resulting in delays and quality control issues [13][14]. - The choice of hardware, specifically the chip used in the glasses, has been criticized for its performance, impacting connectivity and battery life [14]. Competitive Landscape - The competitive landscape is intensifying, with new entrants like Thunderbird and Rokid launching their own smart glasses with advanced features, further challenging the company's market position [16][17]. - The company faces increasing pressure to improve product quality and meet sales targets, with ambitious goals of selling 500,000 units and achieving over 600 million yuan in revenue within the first year [18][19].

Core Insights - The global smart glasses market is projected to experience a significant growth of 210% year-on-year in 2024, driven primarily by strong demand for Ray-Ban Meta smart glasses, marking a historic milestone of over 2 million units shipped [1][3][8] - The success of Ray-Ban Meta smart glasses has prompted major tech companies like Xiaomi, Samsung, Baidu, and ByteDance to enter the smart glasses market, indicating a competitive landscape emerging by 2025 [3][9] - The smart glasses market is expected to continue its upward trajectory, with a forecasted growth of 60% in 2025 and maintaining an annual growth rate of over 60% from 2025 to 2029, supported by diverse applications and an expanding ecosystem of players [3][9] Market Overview - In 2023, the global smart glasses market saw a year-on-year growth of 156%, with Ray-Ban Meta smart glasses capturing over 60% of the market share in 2024 [3][8] - The definition of smart glasses excludes augmented reality (AR) devices, focusing instead on wearable computing devices that integrate electronic components into traditional eyewear [4][11] - AI smart glasses, a subcategory of smart glasses, incorporate AI technology to enhance functionality and user experience, requiring specific standards such as integrated AI processors and voice interaction capabilities [4][6][7] Product Evolution - Ray-Ban Meta smart glasses are recognized as the first AI smart glasses on the market, featuring advanced technology such as integrated NPU, sophisticated cameras, and audio components, enabling functionalities like photo/video capture and audio playback [6][8] - The evolution of smart glasses has shifted from basic improvements in hardware to redefining user experience through AI integration, leading to a surge in demand following the launch of Ray-Ban Meta smart glasses [8][9] Competitive Landscape - The competitive dynamics of the smart glasses market are evolving, with Meta expected to adopt a more aggressive expansion strategy in 2025, aiming to grow its smart glasses business through product diversification [9] - The entry of numerous new AI smart glasses models, particularly from Chinese companies, indicates a proactive approach to capitalize on emerging market opportunities [9]