市场监管总局将持续强化反不正当竞争监管执法，不断完善公平竞争制度规则，用好梯次性监管工具， 切实维护市场公平竞争和消费者合法权益，推动手机行业规范健康可持续发展。 市场监管总局、中央网信办、最高人民法院相关司局同志，广东、上海、重庆等地市场监管部门同志， 以及手机企业、手机应用平台企业、行业协会和媒体代表参加活动。 市场监管总局通报了手机行业不正当竞争典型案例，并指出，作为数字经济关键组成部分，手机和手机 应用领域当前非理性竞争问题较为突出，部分企业利用技术、数据、平台规则等优势实施流量劫持、强 制跳转、恶意不兼容等不正当竞争行为，损害其他经营者和消费者的合法权益，扰乱市场公平竞争秩 序。 市场监管总局强调，手机行业相关经营者要切实增强责任意识，深入学习新反不正当竞争法，高度重视 反不正当竞争合规工作。要全面排查风险隐患，建立健全内部合规管理体系，自觉维护公平竞争市场环 境。要坚决停止并防范各类不正当竞争行为，推动形成优质优价、良性竞争的市场秩序。要遵守法律和 商业道德，共同构建健康有序、互利共赢的产业生态。 据市说新语公众号27日消息，11月26日，市场监管总局在广东深圳对手机和手机应用平台企业开展反不 正 ...

Core Viewpoint - The article highlights the issue of unfair competition in the mobile phone and application platform industry, emphasizing the need for regulatory oversight to ensure fair market practices and protect consumer rights [1][2][3]. Group 1: Unfair Competition Issues - The market regulation authority has identified significant unfair competition practices in the mobile industry, including traffic hijacking, forced redirection, and malicious incompatibility, which harm consumer rights and disrupt fair competition [1][2]. - These practices are driven by mobile manufacturers' desire to dominate market entry points, as they not only sell hardware but also software applications, creating barriers to competitors [1][3]. Group 2: Legal and Regulatory Actions - Legal disputes have arisen from these unfair practices, with cases where companies have sued major mobile manufacturers for maliciously interfering with app downloads, misleading users under the guise of safety [2]. - The regulatory guidance issued by the market authority indicates a shift from merely protecting consumers to ensuring the healthy development of the entire mobile industry and enhancing national industrial competitiveness [2][3]. Group 3: Market Dynamics and Implications - The competitive landscape has shifted, with mobile manufacturers now being included in antitrust regulations due to their control over application distribution, which poses risks of platform-level monopolies [3]. - The mobile industry has evolved into a critical infrastructure for the digital economy, influencing consumer rights, fair competition, data security, and overall innovation capabilities [3][4]. Group 4: Future Considerations - As the era of large models approaches, the distribution rights through mobile devices will become increasingly significant, impacting which innovations gain user access and which are suppressed [4][5]. - It is crucial that the application entry points in the AI era are not monopolized by a few terminal manufacturers to foster innovation and competition in the industry [5].

Core Viewpoint - The article discusses the recent compliance guidance issued by the State Administration for Market Regulation (SAMR) in China, focusing on unfair competition in the mobile phone and application platform industry, highlighting the shift from post-event punishment to preemptive regulation [3][4][9]. Group 1: Regulatory Actions - SAMR has identified irrational competition as a significant issue in the mobile phone industry, urging operators to enhance their awareness of responsibilities and comply with the new anti-unfair competition law [3][4]. - The guidance emphasizes the need for companies to conduct comprehensive risk assessments and establish robust internal compliance management systems to maintain a fair market environment [4][9]. Group 2: Unfair Competition Practices - Certain companies are accused of employing unfair competition tactics such as traffic hijacking, forced redirection, and malicious incompatibility, which harm the rights of other operators and consumers [4][9]. - The article highlights that mobile manufacturers often obstruct users from installing applications from third-party platforms, creating significant barriers that discourage users from proceeding with installations [6][7]. Group 3: Market Dynamics - The article notes a trend where game developers are increasingly withdrawing from mobile channels due to high costs associated with these platforms, opting instead for direct downloads to avoid restrictions imposed by phone manufacturers [12][15]. - The shift in strategy among game developers reflects a growing confidence in their products, allowing them to bypass traditional app stores and attract users through quality offerings [15][16]. Group 4: Compliance and Fair Competition - Legal experts suggest that while not all restrictions are illegal, any actions that unfairly favor a company's own applications over competitors' could be seen as self-preferential and abusive [10][16]. - The article calls for regulatory measures that consider the unique technological characteristics and business logic of the mobile industry, advocating for differentiated compliance standards based on company size and circumstances [16].

11月26日，市场监管总局在广东深圳对手机和手机应用平台企业开展反不正当竞争合规指导。市场监管 总局通报了手机行业不正当竞争典型案例，并指出手机和手机应用领域当前非理性竞争问题较为突出， 部分企业利用技术、数据、平台规则等优势实施流量劫持、强制跳转、恶意不兼容等不正当竞争行为， 损害其他经营者和消费者的合法权益，扰乱市场公平竞争秩序。 上述三类不正当竞争行为，被业内称为手机行业的"三宗罪"。新京报贝壳财经记者注意到，这些行为不 仅侵扰用户体验，更直指市场竞争秩序，其中流量劫持、强制跳转已成为部分主体争夺用户的"惯用手 段"：通过技术诱导和界面误导截流流量，既剥夺了用户选择权，也挤占了其他经营者的曝光机会。 有专家指出，手机厂商通过设置多重步骤、误导性提示等方式，妨碍用户正常下载或强制进行目标跳 转，是典型的利用技术手段实施不正当竞争。 用户权益频遭"技术绑架" 智能手机普及的当下，用户下载应用的体验却愈发复杂。这一困扰的背后，存在当用户尝试从第三方平 台下载应用时，部分手机品牌会借助系统权限，弹出虚假的兼容性提示或风险预警，以此诱导用户转向 自家内置的应用商店。有行业人士认为，本质上这是对第三方应用市场及相关 ...

市场监管总局表示，部分企业利用技术、数据、平台规则等优势，实施流量劫持、强制跳转、恶意不兼容等不正当竞争行为 11月27日，据国家市场监督管理总局信息公开平台"市说新语"消息，日前，市场监管总局在广东深圳对手机和手机应用平台企业开展反不正当竞争合规指 导。 市场监管总局在现场通报了手机行业不正当竞争典型案例，并指出，作为数字经济关键组成部分，手机和手机应用领域当前非理性竞争问题较为突出。同时 强调，手机行业相关经营者要切实增强责任意识，深入学习新反不正当竞争法，高度重视反不正当竞争合规工作。 北京策略（广州）律师事务所律师吴思航对第一财经记者表示，市场监管总局此次合规指导聚焦于手机行业新型不正当竞争行为，体现了从"事后处 罚"向"事前预防"的监管转型。此举有助于厘清技术中立与法律合规的边界，推动行业在法治框架下实现优质优价、公平有序的良性竞争。 监管点名不正当竞争 "部分企业利用技术、数据、平台规则等优势，实施流量劫持、强制跳转、恶意不兼容等不正当竞争行为，既损害其他经营者与消费者合法权益，也扰乱了 市场公平竞争秩序。"市场监管总局在最新通报中明确指出，相关企业需全面排查风险隐患，建立健全内部合规管理体系，自 ...

巨丰投顾：周四市场震荡回暖，有机硅板块涨幅居前。整体看，当前市场或处于急跌之后高景气赛道的 集中修复以及市场整体情绪谨慎的平衡期，在此期间，结构性行情仍将延续。在政策刺激下，A股与经 济有望同步出现向上的拐点。具体投资方向上，继续关注维持高景气度的半导体、消费电子、人工智 能、机器人、低空经济等领域的增量机会。 新华财经北京11月27日电（罗浩）沪深两市三大股指27日开盘涨跌不一，沪指小幅高开，深成指和创业 板指微幅低开。各股指盘初持续上扬，沪指盘中横盘整理，午后小幅拉升后波动回落，最终小幅收涨。 早盘期间，深成指一度涨近1.36%，创业板指一度涨近2.26%，深市两大股指随后持续收窄涨幅，尾盘 转跌，最终均小幅收跌。 27日，新能源产业链相关股整体涨幅靠前，有机硅方向领涨，玻璃基板、POE胶膜、钠电池、固态电 池、HJT电池等多个细分领域板块均有显著上涨。造纸、科创板次新、日用化工、EDA概念、 MicroLED、无线耳机、折叠屏等板块亦有显著上涨。海南自贸、培育钻石、传媒娱乐等板块跌幅靠 前。 截至收盘，沪指报3875.26点，涨幅0.29%，成交额约6985亿元；深成指报12875.20点，跌幅0.25 ...

Core Viewpoint - Transsion Holdings, known as the "King of African Mobile Phones," has officially initiated its process for a secondary listing in Hong Kong after facing significant challenges, including a 44.97% year-on-year decline in net profit for the first three quarters of 2025 [2][3]. Financial Performance - For the first three quarters of 2025, Transsion Holdings reported revenue of 49.543 billion yuan, a decrease of 3.33% year-on-year, and a net profit of 2.148 billion yuan, down 44.97% [3]. - The company's half-year report for 2025 showed even more severe results, with revenue of 29.077 billion yuan, a decline of 15.86%, and a net profit of 1.213 billion yuan, down 57.48% year-on-year [3]. - The stock price as of November 12, 2025, was 65.85 yuan per share, with a total market capitalization of 75.8 billion yuan, significantly down from a peak market value of nearly 200 billion yuan [3]. Market Position and Competition - Transsion Holdings has seen its market share in Africa decline from 52% in Q1 2024 to 47% in Q1 2025, with a shipment drop to 9 million units, making it the only brand among the top five to experience a decline [4][5]. - Despite a slight recovery to 51% market share in Q2 2025, competitors like Xiaomi and Honor have been gaining ground, with Xiaomi's shipments increasing by 32% and Honor's by 161% [5]. Supply Chain and Cost Pressures - The company faces significant pressure from rising supply chain costs, particularly in the storage chip market, which has seen prices increase due to high demand driven by AI applications [6]. - DRAM prices have surged nearly 70% for server contracts and 20-30% for NAND contracts in Q4 2025 compared to the previous year, impacting Transsion's cost structure [6]. Strategic Initiatives - In response to market challenges, Transsion is focusing on developing mid-to-high-end models and enhancing its product offerings [7]. - The company is also investing in AI technologies and diversifying its business into home appliances and digital accessories, aiming to create a comprehensive ecosystem [8][9]. Listing Rationale - The decision to pursue a secondary listing in Hong Kong is aimed at enhancing the company's competitive edge, improving its international brand image, and diversifying its financing channels [10]. - The funds raised from the listing are intended for R&D in AI technologies, expanding international marketing, and strengthening the company's operational capabilities [11].

华为发布Mate80系列手机，Mate 80起步配置12GB+256GB售价4699元；Mate 80 Pro起步配置12GB+256GB售价5999元；Mate 80 Pro Max起步配置16+512GB售价7999元；Mate 80 RS起步配置20+512GB售价11999元。🗒️Mate 80比前代降价300元，Pro和Pro Max（之前叫Pro+）降价500元。 https://t.co/5gRx9h3pfL ...

知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 近一年中国手机出口情况统计图 数据来源：中国海关，智研咨询整理 相关报告：智研咨询发布的《2025-2031年中国智能手机行业市场行情动态及发展趋向分析报告》 根据中国海关数据显示：2025年10月中国手机出口数量为7059万台，同比下降14.2%，出口金额为 155.24亿美元，同比下降16.5%。 ...

Investment Rating - The report indicates a positive outlook for the domestic smartphone market, with a growth forecast for 5G smartphone adoption and overall market expansion [1][4]. Core Insights - In September 2025, the domestic smartphone shipment reached 27.93 million units, representing a year-on-year increase of 10.1%, with 5G smartphones accounting for 86.3% of total shipments [1]. - From January to September 2025, the total smartphone shipments were 220 million units, showing a slight decline of 0.3% year-on-year, while 5G smartphone shipments increased by 0.1% to 187 million units, maintaining an 85.3% share [1]. - The number of new smartphone models launched in September 2025 was 47, a 30.6% increase year-on-year, with 5G models making up 48.9% of the new launches [3]. - The domestic brands accounted for 84.7% of the total smartphone shipments in September 2025, with a year-on-year growth of 16.1% [4]. Summary by Sections Domestic Smartphone Market Overview - In September 2025, 5G smartphone shipments reached 24.11 million units, a growth of 8.0% year-on-year, contributing to 86.3% of total shipments [1]. - For the first nine months of 2025, 5G smartphone shipments were 187 million units, with a marginal growth of 0.1% [1]. New Smartphone Models - The total number of new smartphone models launched in the first nine months of 2025 was 398, with 180 being 5G models, which is a 1.1% increase year-on-year [3]. Domestic Brand Performance - Domestic brands saw a shipment of 23.64 million units in September 2025, marking a 16.1% increase year-on-year, and accounted for 91.7% of new models launched [4]. Smart Phone Development - In September 2025, smart phone shipments were 25.62 million units, reflecting an 8.0% year-on-year growth, while the number of new smart phone models launched was 29, a significant increase of 52.6% [7].