Investment Rating - The report does not explicitly state an investment rating for the smartphone screen production industry Core Insights - The smartphone screen production industry is characterized by high technical barriers and a highly concentrated supply chain, with key materials and equipment dominated by a few international giants [4][12][14] - The market for flexible AMOLED displays is rapidly growing, with a significant increase in shipments and market share [15][40] - The industry is expected to see continued growth driven by advancements in display technologies, including foldable screens and micro-LEDs [42] Summary by Sections Industry Definition - The smartphone screen production process involves the transformation of raw materials like glass substrates, liquid crystal, OLED materials, and conductive layers into high-resolution display modules, requiring expertise in materials science, optics, and electronic engineering [5] Industry Classification - The industry can be classified by display technology (LCD, OLED, Micro-LED) and product form (flat screens, curved screens, foldable screens) [6][9][11] Industry Characteristics - High technical barriers exist due to the complexity of production processes and the need for precision equipment [13] - The supply chain is highly concentrated, with a few companies controlling the majority of the market share in key materials and equipment [14] Development History - The industry has evolved from early LCD technology to the current dominance of OLED and flexible displays, with significant technological breakthroughs expected in the future [16][20] Industry Scale - The market size of the smartphone screen production industry is projected to grow from 742.90 billion RMB in 2025 to 874.45 billion RMB by 2029, with a compound annual growth rate of 4.16% [38] Market Trends - The demand for AMOLED displays is increasing, with sales expected to reach 2,992 billion RMB by 2030, driven by their advantages in quality and energy efficiency [40] - The foldable screen market is also expanding, with a 53.1% year-on-year increase in shipments in Q1 2025 [42] Competitive Landscape - The industry is characterized by high concentration, with major players like Samsung, LG, and BOE leading the market [48][50] - Domestic manufacturers are rapidly increasing their market share, with BOE becoming a key supplier for major brands like Apple [50]

Core Viewpoint - The article discusses the significant transformation in the high-end laptop market driven by Huawei's MateBook Fold, which has redefined user expectations and market dynamics through innovative design and technology [2][3][5]. Group 1: Market Dynamics - In June 2025, the high-end laptop market experienced substantial growth, with Huawei's MateBook Fold achieving a market share of 73% in the 20,000+ RMB segment within its first month [3]. - The introduction of the MateBook Fold has disrupted a previously stable market, indicating that innovation can lead to rapid changes in consumer behavior and market share [3][5]. Group 2: Product Innovation - The success of the MateBook Fold is attributed to breakthroughs in form factor, hardware, and software, including foldable technology, HarmonyOS integration, and AI-driven user experiences [5][11]. - HarmonyOS 5 represents a significant advancement, offering a flexible and adaptive interface that enhances user interaction across devices, thus addressing the limitations of traditional operating systems [11][12][13]. Group 3: Competitive Landscape - The article highlights the inadequacies of existing operating systems like Windows in integrating AI and cross-device functionality, which has created an opportunity for Huawei to position HarmonyOS as a viable alternative [7][9][28]. - Huawei's approach to innovation emphasizes a shift from traditional hardware reliance to a more integrated model that combines software and hardware development, setting a new standard in the industry [23][24]. Group 4: Future Implications - The emergence of HarmonyOS 5 fills a gap in the domestic computer operating system market, enabling Chinese manufacturers to compete more effectively in the high-end segment [26][28]. - The article suggests that Huawei's innovations could redefine the future of laptops, moving away from mere hardware upgrades to a focus on system, form, and ecosystem innovations [30][31].

京东方、维信诺、TCL华星都在布局8.6代柔性OLED或印刷OLED生产线，以把握OLED在IT、车载等中尺寸显示领域的机会。第一财经记者了解到，天马 也有考虑8.6代柔性OLED生产线布局的事宜，由于行业没有统一技术路线，相关事项尚无定论。 今年，两折、三折手机迭出。杨康说，折叠是今后OLED屏的重要发展形态之一，折叠手机市场每年稳定增长。天马已量产左右折、上下折的柔性OLED 屏，接下来其柔性OLED折叠屏将持续迭代、做大销量，拓展更多下游客户。 提升国产OLED屏的竞争力，产业链协同是关键。OPPO副总裁、硬件工程事业部总裁刘畅透露，其护眼OLED手机屏是与天马联合研发，并有定制产线。天 马执行副总裁姜华玮也透露，它结合了OPPO的算法技术及天马的材料开发、算法技术。国产OLED屏还在推进OLED发光材料的国产化，提升屏幕和终端产 品竞争力。 目前，柔性OLED屏九成用于智能手机。天马市场部负责人刘庆全透露，未来天马也将把柔性OLED屏应用于车载、IT领域，预计明年会推出柔性OLED车载 显示产品。 在全球柔性OLED手机屏市场占比超六成的国产OLED屏，正向高端发力。 9月19日，深天马（000050 ...

翔腾新材（001373.SZ）9月18日在投资者互动平台表示，公司制程保护膜相关制备技术主要用于前段制 造工艺环节，其最终是否应用于折叠屏产品，取决于下游客户的产品方案。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司OLED柔性屏制程保护膜及其制备方法技术在折叠 屏上应用了吗？ ...

Core Insights - The foldable smartphone market is experiencing positive growth driven by technological advancements and product innovations [1][3] - Major Android manufacturers are increasing their investments in the foldable smartphone segment, with Samsung upgrading its Fold series and expanding its Flip series [3] - The Chinese market is identified as a key growth engine, with a year-on-year increase of 32.8% in foldable smartphone shipments [3] Market Performance - In the first half of 2025, global shipments of foldable smartphones remained stable at approximately 6.6 million units [3] - The United States, as the second-largest market, saw a 7% year-on-year increase in shipments, driven primarily by the Motorola Razr 2025 series [3] Future Outlook - Canalys forecasts that global shipments of foldable smartphones will reach around 15.2 million units for the entire year of 2025 [3] - The market is expected to see a significant 51% year-on-year growth in 2026, marking a critical turning point for the industry [3]

Group 1 - Samsung launched a social media campaign targeting Apple's iPhone 17 series, using the hashtag iCant to highlight perceived shortcomings in hardware specifications and innovation [1][2] - The main focus of Samsung's criticism was on the camera specifications, comparing the iPhone 17 Pro's three 48MP lenses to the Galaxy S25 Ultra's single 200MP camera, suggesting that Apple's configuration is inferior [1] - Samsung also criticized Apple for delayed feature releases, claiming that functionalities like the "Sleep Score" and real-time translation in AirPods Pro 3 were already available in Samsung products five years ago [2] Group 2 - Samsung emphasized its lead in foldable screen technology, referencing a previous post to mock Apple's lack of a foldable iPhone, while the Galaxy Z series has been established in this market for years [2][3] - The social media campaign generated significant engagement, with the iCant hashtag trending and Samsung's posts receiving thousands of likes and shares, reflecting a divided public opinion [2] - Analysts suggest that Samsung's strategy aims to solidify its advantages in AI and foldable technology, especially as Apple may not release a foldable iPhone until 2026 [3]

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：有传闻说北美大客户折叠屏可能会采用CPI+UTG的方 案属实吗？ 蓝思科技（300433.SZ）9月11日在投资者互动平台表示，以上传闻不属实。 UTG已成为折叠屏新的主 流趋势，在折痕、硬度、透光率、触感等性能指标均比CPI更优。公司作为UTG的全球核心供应商，凭 借深厚的技术积累、完善的专利布局和成熟的量产能力，深度配合大客户开发相关产品，已进行新一代 折叠屏UTG的产能建设，为大客户的高端折叠机量产提供有力支持。 根据保密协议，公司不便披露具 体信息。 ...

Core Insights - Apple's 2025 fall product launch highlighted the iPhone 17 series battery upgrades and the introduction of iPhone Air, focusing on "lightweight design," "battery life breakthroughs," and "foldable screen layout" as key industry themes [1] - As a leading brand influencing industry trends, Apple's product moves have garnered significant market attention, with some Chinese manufacturers already validating differentiated technological solutions in these key areas [1] Battery Life Solutions - The core contradiction in smartphone technology iteration is "improving battery life without sacrificing lightweight design." Apple's approach involves equipping the iPhone 17 Pro with the largest battery capacity to date, aiming to enhance battery life through hardware upgrades, yet balancing a large battery with a lightweight design remains a common industry challenge [2] - Chinese manufacturers are exploring differentiated paths, such as Honor's Magic V5 foldable screen featuring a 6100mAh battery, which is the industry's first mass-produced high-silicon battery at 25%, achieving breakthroughs in both lightweight design and battery life through "material innovation + structural optimization" [2] Foldable Screen Development - Foldable screens represent a significant direction for mobile form factor innovation, but challenges such as hinge reliability, weight control, and cost reduction have led to cautious industry advancement. The iPhone Air is seen as a technical groundwork for a foldable iPhone in 2026, reflecting the leading brand's steady layout in this new arena [3] - Some Chinese manufacturers have entered the "landing phase" of foldable screen technology, with Honor's Magic V5 achieving a foldable thickness of 8.8mm and a weight of 217g, setting a new lightweight standard for foldable flagships. This is supported by advanced technologies like the Luban shock-absorbing hinge and aerospace-grade carbon fiber lining, creating a "light as paper, strong as steel" feel [3] - The progress in the smartphone industry is not reliant on a single brand but rather a "symbiotic effect" of diverse explorations. As technology becomes more widespread, consumers will benefit from improved experiences across various price points and form factors, with a healthy ecosystem of diverse technological exploration being the core driver of innovation in the industry [3]

人民财讯9月11日电，针对"有传闻说北美大客户折叠屏可能会采用CPI+UTG的方案是否属实"等问题， 蓝思科技（300433）在互动平台回复，以上传闻不属实。UTG已成为折叠屏新的主流趋势，在折痕、 硬度、透光率、触感等性能指标均比CPI更优。公司作为UTG的全球核心供应商，深度配合大客户开发 相关产品，已进行新一代折叠屏UTG的产能建设，为大客户的高端折叠机量产提供有力支持。 ...

Investment Highlights - The global smartphone market is expected to grow by 7% in 2024, reaching 1.22 billion units, with a shift in focus towards hardware innovations like foldable screens [3] - The high-end smartphone market continues to expand, with a 6% increase in sales despite an overall decline in smartphone sales in 2023 [8] - China is projected to maintain a dominant position in the foldable smartphone market, accounting for approximately 40% of global market share [11] - Huawei has surpassed Samsung to become the global leader in foldable smartphone shipments as of Q1 2024 [13] - The average price of foldable smartphones is significantly higher than traditional flagship models, with Huawei's average price reaching 12,999 yuan [15] Industry Trends - The bill of materials (BOM) for foldable smartphones has increased significantly, with costs rising nearly 70% compared to non-foldable models [20] - Key components such as display modules, mechanical structures, and batteries have seen BOM value increases of over 50% [20][21] - The flexible OLED market is crucial for foldable smartphones, with a shift from traditional OLED to flexible solutions due to their superior properties [22][24] - The UTG (Ultra Thin Glass) market is expanding rapidly, with a projected CAGR of 50.9% from 2024 to 2030 [28] - The hinge market for foldable smartphones is expected to exceed 7.8 billion yuan by 2024, with a CAGR of 24.71% from 2023 to 2028 [36] Key Companies - Pengding Holdings is positioned to benefit from the PCB industry upgrade, offering a diverse range of PCB products [44] - Luxshare Precision has established deep ties with major clients in consumer electronics, enhancing its market position [46] - Changying Precision is a leading manufacturer of precision components, expected to accelerate the adoption of hinges in foldable devices [48]