任何产业技术的迭代发展与做大， 都离不开先行者的孤勇及开拓。 时代的领先者，是敢于走在行业前面的人。 2024年，华为推出全球首款商用三折叠，把不可能变为可能，让科幻成为现实。那时候的华为或许不会 想到，自己会在这条赛道独行这么久。 一年多后，第二位三折叠玩家正式入局，这个细分的赛道热闹起来，也第一次迎来了真正意义上的同行 者。 在这之前，这条技术密度极高、供应链门槛极深的赛道始终只有华为"独行者一人"，并且迭代两代产 品。华为不仅把三折叠从工程样品带到量产普及，更提前把生态、交互、应用适配等系统能力铺设到了 可持续进化的状态，用当下流行的话来说便是：华为三折叠的含金量还在上升。 为什么是华为？其实如果我们回顾华为折叠屏的发展路程，便不难回答这个问题。 早在2019年，手机行业还未完全进入全面屏的时代，华为就以开拓者之姿，将业界首款5G折叠旗舰产 品从概念带入了现实，打破手机形态的固有边界。在这之后，华为继续拓宽品类，构建了横向内折、竖 向折叠的形态矩阵，到如今还拥有阔折叠以及三折叠多元形态的产品矩阵。是当下折叠屏布局极全、技 术积累颇深厚的厂商，没有之一。 因而说，这场"行业竞逐的热闹"，其实是给华为这位孤 ...

Investment Rating - The report maintains a "Buy" rating for ZTE Corporation and a "Hold" rating for Visionox Technology [8] Core Insights - The AI mobile phone market is on the verge of rapid growth, with the launch of Doubao's mobile assistant preview version indicating a significant shift in consumer electronics [4][14] - Huawei's "Smart Hanhai" AI toy has seen explosive sales, highlighting the growing demand for AI-integrated products in the consumer market [5][15] - The AI toy market in China is projected to grow from approximately 24.6 billion yuan in 2024 to 29 billion yuan in 2025, with expectations to exceed 100 billion yuan by 2030, reflecting a compound annual growth rate of over 50% [6][15] Summary by Sections Industry Dynamics - The smartphone market is experiencing innovation with Samsung's launch of the Galaxy Z TriFold, a multi-folding screen device aimed at maintaining its competitive edge [17][18] - The global foldable smartphone market is expected to grow, with Samsung holding a significant market share of 64% in Q3 2025 [19][24] - Apple is anticipated to regain its position as the largest smartphone manufacturer in 2025, driven by strong demand for the iPhone 17 series [33][34] Key Companies and Earnings Forecast - ZTE Corporation is projected to have an EPS of 1.76 in 2024, increasing to 1.91 by 2026, with a PE ratio of 23.99 in 2024 [8] - GoerTek and other companies are highlighted as key players in the AI toy sector, with significant growth potential [6][15] - The report suggests monitoring companies like ZTE, Visionox, and Lens Technology for investment opportunities in the AI mobile and toy markets [6][15]

三折叠争夺战再度升级！继华为之后，三星也推出三折叠手机。 12月9日，三星首款三折叠Galaxy Z TriFold开启预售。与华为三折叠手机采用Z字形折叠方案不同，三星三折叠手机采用双侧内折方案，内屏完全包裹。 以朝阳合生汇门店为例，工作人员透露，目前已有超过30名顾客支付定金，但首批到货数量预计仅为3~5台，将于12月19日起陆续交付。若现在预约购 买，按当前排队顺序预计需等待半个月以上。 这种"一机难求"的局面，或许不完全源于三折叠屏幕极其复杂的工艺和较低的良品率，也是三星的一种"试水"策略。 但在价格上，三星这款三折叠手机16GB+512GB版本售价19999元，16GB+1TB版本售价21999元。在相同配置情况下，Galaxy Z TriFold的售价与华为三折 叠手机HUAWEI Mate XTs非凡大师保持一致，火药味十足。 尽管价格逼近2万元大关，但市场热情似乎并未受到抑制。预售开启后，首批库存迅速售罄。时代周报记者查阅三星在淘宝、京东等电商平台的旗舰店发 现，Galaxy Z TriFold首批库存已一抢而空，进入缺货状态。下一次线上开抢，需等到12月10日上午十点。 有参与抢购的三星用户 ...

Group 1: AI and Mobile Technology - Nubia CEO Ni Fei emphasized that the development of AI smartphones is an irreversible trend, with a focus on open collaboration to enhance user experience [12][13][14] - The first foldable iPhone is projected to have a production target of approximately 10 million units, exceeding initial industry expectations by about 30% [3] - The foldable iPhone is expected to drive a significant increase in global foldable smartphone shipments, with IDC forecasting a 30% growth in the market by 2026 due to Apple's entry [4] Group 2: Xiaomi's Organizational Changes - Xiaomi has initiated a series of personnel adjustments in its China operations, with Wang Xiaoyan taking charge of performance [5][7] - The company is experiencing a slowdown in orders across its mobile, automotive, and home appliance sectors, prompting a shift in retail strategy towards optimizing existing stores rather than expanding [8][10] - Xiaomi anticipates a one-time loss of approximately 27.26 million yuan to assist partners in reducing their annual losses by over 72.46 million yuan [9] Group 3: AI Developments and Strategic Moves - Huawei has established a new department focused on foundational large models, marking a significant upgrade in its AI strategy [24][26] - Alibaba has formed a new C-end business group, aiming to develop its "Qianwen" app into a super app that serves as a gateway to AI [35] Group 4: Market Reactions and Future Projections - Nvidia's H200 chip has been approved for export to China, with the U.S. government set to take a 25% cut from sales, highlighting the competitive landscape in AI technology [20][21][22] - The anticipated price of the foldable iPhone is expected to start at $2400, capturing over 22% of the foldable smartphone market share in its first year [3]

折叠屏推出了这么久，相比直板机优劣如何？华为Mate x7与华为Mate 80 pro max双旗舰对比，本期视频从"折与 不折"的产品之争，转向"我是否需要折叠"的需求审 视。，提供了一个清晰的诊断框架，观众们可以在观看 过程中自行完成对号入座，在视频最后，你会得到一份 基于分析，高度个人化的"购买可行性报告"。 折叠屏推出了这么久，相比直板机优劣如何？华为Mate x7与华为Mate 80 pro max双旗舰对比，本期视 频从"折与不折"的产品之争，转向"我是否需要折叠"的需求审视。，提供了一个清晰的诊断框架，观众 们可以在观看过程中自行完成对号入座，在视频最后，你会得到一份基于分析，高度个人化的"购买可 行性报告"。 ...

Core Viewpoint - Samsung has officially showcased its first tri-fold smartphone, the Galaxy Z TriFold, which features advanced technology and design, entering the foldable phone market a year after Huawei's similar product launch [2][35]. Group 1: Product Features - The Galaxy Z TriFold utilizes a unique "G" type folding mechanism, which is designed to protect the internal main screen and ensure consistent stress distribution during folding [11][44]. - It is the world's first tri-fold smartphone that supports IP48 level dust and water resistance, making it a standout in the market [18][51]. - The device features a 10-inch display with impressive brightness, color performance, and detail, enhancing the visual experience significantly [16][49]. - The phone is equipped with a customized Snapdragon 8 Elite mobile platform, a 200-megapixel camera, and the largest battery ever in a Samsung foldable phone, along with a 120Hz refresh rate and 1600 nits peak brightness [23][56]. Group 2: User Experience - The Galaxy Z TriFold offers enhanced multi-tasking capabilities, allowing users to run multiple applications simultaneously on its large screen, which is particularly beneficial for productivity [25][59]. - The device supports Samsung DeX, enabling it to function as a secondary display for computers, thus improving mobile office capabilities [32][65]. - Users can customize their workspace by adjusting application window sizes and positions, similar to a PC environment, facilitating a more efficient workflow [28][61]. Group 3: Market Context - The global foldable smartphone market has seen a slowdown in growth, with the overall market size not meeting industry expectations, indicating a shift in consumer interest towards other innovative products like AI glasses and XR devices [33][66]. - Samsung's entry into the tri-fold market comes after a significant delay compared to domestic competitors, raising questions about its impact on the foldable smartphone landscape, especially with the anticipated release of Apple's foldable device next year [33][66].

Core Viewpoint - The iPhone Air, despite being marketed as the "thinnest iPhone" at 5.6mm thick and weighing 165g, has underperformed in the market since its launch on October 22, 2025, leading to the dismantling of several production lines by Apple suppliers [1][3]. Market Performance - The iPhone Air has not met sales expectations, with reports indicating that Apple suppliers have removed multiple production lines dedicated to this model [3][8]. - In contrast, the iPhone 17 series has performed exceptionally well, dominating sales rankings during the recent "Double 11" shopping festival, while the iPhone Air was notably absent from the top lists [3][6]. Consumer Preferences - The iPhone Air caters to a niche market that values lightweight design, but this demographic is not representative of the broader consumer base, which prioritizes features such as performance and battery life over thinness [3][6]. - The device's specifications, including a 3149mAh battery and single-camera setup, have been perceived as compromises, leading consumers to view the iPhone Air as a "downgraded" option compared to other flagship models [4][6]. Pricing and Competition - Priced at 7999 yuan, the iPhone Air is more expensive than many Android flagship models, yet offers less storage capacity than the iPhone 17, which is available at the same price point [7][8]. - The high-end smartphone segment has seen significant growth, with models priced above 6000 yuan accounting for 50% of sales, indicating that consumers are willing to pay for premium features rather than just a lightweight design [7][8]. Industry Response - The lack of consumer interest in lightweight models has prompted both Apple and Android manufacturers to reconsider their strategies, with reports of Android brands like Xiaomi, OPPO, and vivo canceling their lightweight projects [8][9]. - Analysts suggest that while there is a demand for thinner devices, it is not a primary concern compared to performance and battery life, leading to a reevaluation of the lightweight smartphone market [8][9]. Future Outlook - The iPhone Air may not be positioned for annual updates, indicating that Apple might not prioritize this model for mass production, but rather use it as a testbed for future innovations, such as foldable devices [9][10]. - The overall trend in the smartphone industry suggests that while lightweight designs are appealing, the focus will likely shift back to performance and advanced features, including AI capabilities, in future product developments [17][18].

来源：环球网 【环球网科技综合报道】12月7日消息，据macrumors日前报道，苹果首款折叠屏手机iPhone Fold或将取 消实体SIM卡槽，全面采用eSIM技术。这一消息与彭博社记者马克·古尔曼及天风证券分析师郭明錤此 前的预测形成呼应。 据多方信息整合，iPhone Fold预计于2026年底至2027年初亮相，采用书本式折叠形态，配备5.5英寸外 屏与7.8英寸内屏，后者尺寸接近iPad mini。古尔曼曾评价该设备"极致纤薄，堪称设计突破"，其机身厚 度堪比两部钛金属iPhone Air拼接，内部空间因此高度受限，这被认为是取消实体SIM槽的核心原因。 此外，iPhone Fold据传将搭载2400万像素屏下摄像头、无折痕内屏等新技术。定价方面，其美国售价或 达2000-2500美元（约合人民币1.45万-1.8万元），有望成为史上最贵iPhone。 但这一设计在中国市场可能"水土不服"。外媒指出，国内用户对实体SIM卡及双卡双待需求强烈，且手 机转售、短期试用等消费场景依赖便捷的SIM迁移，纯eSIM设计需运营商提供无缝激活支持才能落地。 苹果并非未察觉隐患。此前iPhone Air因空间问题 ...

Core Viewpoint - Samsung's new Galaxy Z TriFold smartphone faces significant market scrutiny and criticism, particularly from tech influencer Luo Yonghao, as it attempts to compete in the high-end market against Huawei's offerings. The shift in market share dynamics highlights Samsung's declining presence in China, which has become the largest market for foldable smartphones globally [1][3]. Group 1: Product Overview - The Galaxy Z TriFold features a dual-hinge design that allows it to unfold into a tablet-sized device, with a launch price of approximately 3.59 million KRW (around 17,302 RMB or 2,450 USD) set for December 12 in South Korea [1]. - The device boasts a thickness of only 3.9 mm when unfolded and includes a 5600 mAh battery, marking the largest battery capacity for Samsung's foldable phones to date [2]. Group 2: Market Position and Strategy - Samsung's market strategy contrasts with Huawei's localized approach, focusing on global product line standardization and scale innovation, which has led to concerns about product-market fit in China [3]. - As of Q3 2025, Samsung is absent from the top five smartphone manufacturers in China, a stark contrast to its 20% market share in 2013 [4][6]. Group 3: Historical Context and Challenges - Samsung's decline in China began around 2016, exacerbated by the Note 7 battery incident and the rise of local brands like Huawei and Xiaomi, leading to a market share drop to below 1% by 2022 [5]. - Despite regaining the top position globally with a 20.8% market share in 2023, Samsung's struggles in the Chinese market are attributed to intense competition and a lack of localized strategies [6][9]. Group 4: Future Outlook - The success of the Galaxy Z TriFold in China remains uncertain, as Samsung's internal challenges and market dynamics pose significant hurdles [10].

来源丨凤凰网财经《公司研究院》 "除了比华为那种方案更厚，意义在哪？"近日，科技名人罗永浩对三星最新三折叠手机Galaxy Z TriFold的犀利吐槽，迅速在中文互联网上引发热 议。 这款被三星寄予厚望、旨在高端市场与华为Mate XTs等产品展开竞争的三折叠手机，正面临市场审视。这一落差，在市场份额的变化中尤为明显。 2013年，三星曾占据中国智能手机市场20%的份额，稳坐头把交椅。当时，华为尚在运营商渠道挣扎，小米才刚刚起步。然而时过境迁，自2023年 起中国成为全球最大折叠屏手机消费市场，而在如今的中国市场前五榜单中，已难觅三星踪影。 01 1.7万的三星三折叠手机遭罗永浩吐槽 据三星官网介绍，这款名为Galaxy Z TriFold的手机，创新性地采用了双铰链设计，通过双铰链设计，手机可展开至平板电脑尺寸。 三星计划于12月12日在韩国率先首发该机型，其售价定为359万韩元（约合17302元人民币），换算成美元约为2450美元。 从设计来看，三星和华为的三折叠手机存在较为明显的差异。三星的TriFold设备采用双侧内折铰链设计，而华为Mate XT在折叠时则呈现出独特的Z 字形结构。值得一提的是，T ...