Core Insights - The demand for the newly launched iPhone Air is lower than expected, leading to a significant reduction in supply chain output and production capacity [1] - Apple plans to cut the production of iPhone Air by 1 million units while increasing the production of the iPhone 17 series by 2 million units [3] - The iPhone Air's launch day performance was lackluster compared to the iPhone 17 series, with fewer customers visiting stores and limited interest in eSIM consultations [4] Group 1 - Analyst Ming-Chi Kuo predicts that by Q1 2026, most suppliers will reduce their production capacity by over 80%, with some components expected to cease production by the end of 2025 [1] - The iPhone Air's design, featuring a thickness of only 5.64 mm and a weight of 165 grams, is attributed to the elimination of the physical SIM card slot in favor of eSIM technology [4] - Market research indicates that there is "almost no demand" for the iPhone Air, and consumer willingness to pay for new form factors like foldable devices is limited [4][5] Group 2 - Historical analysis shows that previous models like the iPhone mini and Plus failed to create new market segments, with the mini being too small and the Plus lacking differentiation [5] - Apple is reassessing its product line and market strategy in light of the iPhone Air's underperformance, with plans for a foldable iPad potentially delayed until 2029 due to engineering challenges [6] - Following the disappointing demand for the iPhone Air, Apple-related stocks in Hong Kong experienced declines, with companies like FIH Mobile and Luxshare Precision seeing significant drops [7]

Core Viewpoint - The launch of the iPhone Air, a pure eSIM phone, marks a significant shift towards a "SIM-less" future, but the actual implementation and user experience reveal complexities and limitations that may hinder widespread adoption [1][10][30]. Group 1: Product Launch and Market Response - Apple CEO Tim Cook announced the iPhone Air, which will be available in China starting October 22, emphasizing the transition to eSIM technology [1]. - The iPhone Air sold out within five minutes of its pre-sale, indicating strong initial demand, but subsequent concerns about eSIM activation processes have emerged [3][6]. - Analysts predict that Apple may reduce production by 1 million units due to lower-than-expected sales, influenced by mixed international market reactions [3][6]. Group 2: eSIM Technology and User Experience - The iPhone Air supports a maximum of two eSIM numbers, and users must visit physical stores to activate eSIMs, which complicates the process compared to traditional SIM cards [2][17]. - Users must present identification and visit their phone number's local service provider to activate eSIMs, which contrasts with the convenience of online activation for physical SIM cards [18][19]. - The eSIM technology allows for easier switching between carriers and eliminates the need for physical SIM cards, but the current implementation in China is cumbersome and requires in-person visits [12][28]. Group 3: Industry Implications and Challenges - The introduction of eSIM technology is seen as a potential game-changer for mobile devices, allowing for more internal space and innovative designs [35][36]. - However, the reluctance of Chinese telecom operators to fully embrace eSIM technology due to concerns over user retention and security has created barriers to its adoption [37][40]. - The current eSIM process in China resembles the traditional SIM card experience, limiting its advantages and leading to frustration among users [30][26].

eSIM并非新技术，所谓eSIM手机，也就是将实体SIM卡功能集成到手机内置芯片中，消费者购买具备 eSIM功能的手机后，无需插入实体SIM卡，就可将电话号码通过空中下载的方式写入内置eSIM芯片。 通俗地看，可以把它理解为一个数据文件，有了它，各种电子终端就能连接上网，接拨电话、发短信 等，功能上和普通SIM卡无异。用户未来无需担心SIM卡遗失等问题带来的不便，也不需要到处找卡 针；对于跨国出行较多的人，也不需要频繁换卡等。 一位消费者向记者表示："我使用的是安卓手机和eSIM手表。我换手表不换号，感觉还是挺方便的。" 就像多数智能手机的内置电池一样，SIM卡或许也会告别独立形态，和手机融为一体。 10月22日，iPhone Air国行版正式发售，该机型仅支持eSIM，是国内三大运营商首批支持eSIM手机业务 的机型。国产品牌迅速跟进，华为、OPPO等厂商的eSIM手机，均将陆续上市销售。 前两篇文章，我们从eSIM供应链全局、核心芯片视角发掘无卡时代机遇。本篇，我们从终端使用者视 角分析，eSIM将给普通人的生活带来哪些改变？数十万人排队申请eSIM手机业务，一个新的消费电子 战场来了？ 国内手机厂商也将 ...

Core Insights - The three major telecom operators in China, China Mobile, China Unicom, and China Telecom, have been approved to conduct commercial trials of eSIM technology nationwide, allowing users to register without a physical SIM card [1][5] - Apple is set to release the iPhone Air, the first smartphone in China to support only eSIM, on October 22, with pre-sales achieving over 100 million yuan in just one second [1][4] - Domestic eSIM applications in smartphones are in the early stages, with previous efforts having faced various phases of exploration and stagnation [5] Telecom Operators' Strategies - China Mobile is focusing on the localization of eSIM chip technology and aims to develop more secure and functional eSIM terminals [7] - China Unicom has been a pioneer in eSIM technology since 2015 and has adapted 75 terminal types, serving over a million users [7][8] - China Telecom plans to collaborate with industry partners to build an open and cooperative eSIM ecosystem [8] Chip Manufacturers and Supply Chain - Unisoc is the first domestic chip manufacturer to achieve global commercial use of eSIM, with products compliant with GSMA standards [5] - The supply of domestic eSIM chips is contingent on the clarification of business models and partnerships between telecom operators and smartphone manufacturers [7] - Companies like Huada Electronics and Changdian Technology are actively developing technologies to capture market opportunities in the eSIM sector [6][7] Market Potential and Future Developments - The eSIM market is expected to grow significantly, with manufacturers and service providers keenly observing the evolving landscape [6][9] - Apple plans to introduce an eSIM Quick Transfer feature in the Chinese market, indicating a push towards enhancing user experience [9]

Core Insights - The introduction of eSIM technology by major Chinese telecom operators marks a significant shift from traditional SIM cards to embedded SIMs, enhancing user convenience and operational efficiency [1][2][3] Industry Impact - eSIM technology allows for remote digital management of user data, which can lower operational costs for telecom operators [2] - The removal of physical SIM card slots enables smartphone manufacturers to design lighter and more water-resistant devices, potentially leading to innovative product designs [3] - eSIMs can support a wide range of devices beyond smartphones, including smartwatches and tablets, thus expanding the market for eSIM-enabled products [2] User Benefits - Users no longer need to worry about losing or damaging physical SIM cards, as eSIMs can be activated quickly through a QR code scan at service centers [2] - Frequent travelers can easily switch between domestic and international services without the hassle of changing physical SIM cards, enhancing the overall user experience [2] - eSIMs provide flexibility in managing multiple devices under a single account, allowing for a more streamlined communication experience [2]

Core Viewpoint - The introduction of eSIM technology by major Chinese telecom operators marks a significant shift in mobile communication, enhancing convenience and flexibility for users while also providing operational benefits for the industry [1][2][3]. Group 1: Benefits for Users - eSIM technology eliminates the need for physical SIM cards, reducing concerns about losing or damaging cards and simplifying the process of switching devices [2]. - Users can activate eSIM services quickly by scanning a QR code at telecom service centers, without incurring any card fees or service charges [2]. - eSIM enables easier international travel by allowing users to access local and international services without needing to purchase physical SIM cards [2]. Group 2: Industry Development - eSIM technology allows telecom operators to manage user data remotely, which can lead to reduced operational costs [3]. - The removal of SIM card slots provides smartphone manufacturers with more design flexibility, potentially leading to thinner devices and improved waterproofing [3]. - eSIM's durability makes it suitable for IoT devices operating in harsh environments, facilitating the smart upgrade of traditional industries [3]. Group 3: Current Status and Future Outlook - eSIM services are currently in a trial phase, requiring in-person activation, with ongoing improvements in service scenarios [3]. - Users are advised to understand the activation details from their operators and manage their eSIM data carefully to avoid issues like continued charges after device changes [3].

Core Viewpoint - Apple's first pure eSIM model, iPhone Air, officially launched in China, marking a significant step towards the widespread adoption of eSIM technology in the smartphone market [1] Group 1: Company Developments - China Unicom, China Mobile, and China Telecom have all announced their approval to conduct commercial trials for eSIM mobile phones [1] - Apple is positioned as a key driver in promoting eSIM technology within the Chinese market [1] Group 2: Industry Trends - The introduction of eSIM technology is accelerating the transition to a "cardless era" in the global smartphone market [1]

Core Insights - The launch of the iPhone Air in China has been underwhelming, failing to replicate the previous excitement seen with other iPhone releases [1][4] - Many customers are showing interest in the iPhone Air's design but are primarily engaging in trial rather than making purchases [6][7] Sales Performance - On the launch day, there were no long queues at major Apple retail stores in Beijing and Shanghai, indicating a lack of strong demand [2][5] - Despite some color options selling out, the overall customer traffic did not translate into robust sales [5][6] Consumer Feedback - Consumers find the iPhone Air's lightweight design and new colors appealing, but most are opting to try the device rather than buy it [7][8] - The pricing strategy, with a starting price of 7999 yuan, is perceived as high compared to competitive Android flagship models [8][12] Production Status - Reports suggest that iPhone Air production has been paused due to disappointing sales both domestically and internationally, with plans to cut production by one million units by the end of 2025 [14] - Current inventory is deemed sufficient, leading to a temporary halt in production until further orders are accumulated [14] Competitive Landscape - Apple is facing intense competition in the Chinese market from local brands like Huawei, Xiaomi, and Oppo, which offer more competitively priced products [18][20] - Recent launches of flagship models by local competitors further intensify the competitive environment [19] Overall Market Demand - Despite the lackluster performance of the iPhone Air, the overall demand for the iPhone 17 series remains strong, with a 14% increase in sales compared to the previous generation during the first ten days post-launch [21][22] - The success of the iPhone 17 series is attributed to its redesign and enhancements, showcasing Apple's brand strength and ecosystem loyalty [23]

"手机无卡时代"仿佛到来了，但又和所有人想象的不太一样。 上周，苹果CEO库克在直播间里正式宣布纯eSIM手机iPhone Air将于10月22日正式在国内发售。有人兴奋预测，"插卡打电话"这件事再过十几年就会成为 这一代人的历史记忆。就像被15后问到：为什么说到"打电话"时用的手势是比一个"6"在耳边，而你只能感叹时光飞逝。几年后的孩子也会问，为什么家 里的旧手机侧边有个带圆孔的小槽？ 按理说eSIM的出现大大省去了你办卡的麻烦：未来买手机，开机后在屏幕上点两下，扫码激活eSIM卡，就能联网、打电话；去到另一个国家也不需要再 线上办实体卡。 但当三大运营商接连宣布启动eSIM办理，兴致勃勃预定了iPhone Air的打工人才傻了眼：一个手机最多绑定两个eSIM号码；办理eSIM必须去线下营业 厅，还得是手机号归属地。 "明天你买的iPhone Air就到了，结果eSIM要回老家办。" 不插手机卡的手机终于要来了 但这部"史上最薄iPhone"其实相当奢侈：256g的价格7999元，比普通版iPhone 17贵了2000元。只有一个主摄镜头，拍照变焦2倍。为了节省内部空间，原 来分别位于机身顶部和底部的扬声器 ...

Core Viewpoint - The approval of eSIM commercial trials by China's three major telecom operators marks a significant step towards the widespread adoption of eSIM technology in smartphones, with the iPhone Air leading the charge in the domestic market [1][2]. Group 1: eSIM Commercialization - China Mobile, China Unicom, and China Telecom have received approval to conduct eSIM mobile phone commercial trials across all 31 provinces in China, allowing users to register without a physical SIM card [1]. - The iPhone Air, set to launch on October 22, is the first domestic smartphone to support only eSIM, achieving over 100 million yuan in sales within one second during pre-sales [1]. - Domestic manufacturers like Huawei and OPPO are expected to follow suit by launching their own eSIM-enabled smartphones [1]. Group 2: Supply Chain and Technology - The supply of domestic eSIM chips is still in the early stages, with companies like Unisoc and Tongfu Microelectronics being key players in the chip supply chain [1][3]. - Unisoc has developed eSIM chip technology that is compatible with over 400 global operators, but the final selection of domestic operators and the business model remain unclear [1][5]. - The eSIM chip supply process is hindered by the need for clarity on cooperation between mobile manufacturers and telecom operators, as well as the establishment of relevant protocols [5]. Group 3: Industry Development and Future Prospects - China Unicom has been a pioneer in eSIM technology since 2015, with over 75 compatible devices and a user base exceeding one million [6]. - China Telecom aims to collaborate with industry partners to build an open and cooperative eSIM ecosystem, promoting innovation in terminal forms and service models [6]. - The introduction of eSIM Quick Transfer functionality by Apple in the Chinese market indicates a growing trend towards eSIM adoption, which could reshape the domestic communication industry [6].