值得关注的是，两家公司的专利纠纷并非首次出现。这场纠纷最早可追溯至2020年。Masimo指控苹果通过挖走其关键员工（包括首席医疗官）获取脉搏血 氧测量技术专利。2023年，美国国际贸易委员会（ITC）因侵权问题发布了针对Apple Watch Series 9和Ultra 2型号的进口禁令，迫使苹果在2023年底暂停销 售Series 9和Ultra 2两款主力机型，直到2024年1月恢复销售时，已不得不禁用涉争议的血氧监测功能。 根据判决文件，此次赔偿涵盖了2020年至2022年间售出的约4300万台Apple Watch。尽管苹果试图将赔偿金额限定在300万至600万美元，但陪审团最终支持 了Masimo提出的更高索赔范围。 市场调研机构Omdia最新数据显示，2025年第二季度全球可穿戴腕带设备市场中，苹果出现了1%的同比下滑，与主要竞争对手的增长势头形成反差。Omdia 的报告指出，对入门级基础设备的强劲需求，加上更先进的追踪功能，正在推动市场扩张。这种市场趋势可能更有利于主打高性价比的厂商。 近日，美国加州一家联邦陪审团近期作出裁决，认定AppleWatch的血氧检测相关技术侵犯了医疗技术公司Ma ...

雷军今日在微博发文称，今年上市的小米SU7 Ultra与YU7内置了车载ETC功能，开始免费激活。已付费 的用户，将在12月起陆续赠送500积分。感谢大家支持。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com 据悉，小米YU7标配ETC功能，该ETC采用隐藏式设计，用户可在车机内随时开关，配合智能辅助驾驶 系统高效通过高速收费口。此前，车主需花50元才能激活。 来源：新浪网 ...

Core Insights - Apple is facing a significant leadership transition as CEO Tim Cook, aged 64, is expected to step down by 2026 after a 15-year tenure, during which the company's market value surged from $350 billion to over $4 trillion [3][4] - The new CEO will face the urgent challenge of addressing Apple's lag in the AI sector, particularly with the delayed upgrades to Siri and the lack of competitive AI applications [5][25] Leadership Transition - Tim Cook's departure raises questions about who will succeed him at the helm of the tech giant [3][4] - John Ternus, Senior Vice President of Hardware Engineering, is widely considered the frontrunner for the CEO position due to his extensive experience in product design and engineering [7][9] - Other potential candidates include Craig Federighi, Senior Vice President of Software Engineering, known for his efficiency and management style, and Deirdre O'Brien, who has a deep understanding of Apple's culture but lacks technical experience [11][19][20] AI Challenges - Apple is perceived as falling behind in the AI race, with significant delays in the rollout of AI features for Siri and other products [5][25][26] - Internal issues, including a high failure rate in testing new AI functionalities and the need for a complete overhaul of Siri's architecture, have compounded these challenges [28][29] - The departure of key AI executives has further slowed Apple's progress in AI development [31] Product Development and Innovation - Apple's Vision Pro headset has underperformed in the market, with sales falling short of expectations since its launch [32] - The company is also working on a foldable iPhone, with plans for a 2026 release, but production challenges have led to potential delays [34][35] - The new leadership will need to navigate a complex landscape of innovation and operational efficiency, as Apple has expanded significantly under Cook's leadership [36][37]

Group 1: BYD Electronics - BYD Electronics reported a revenue of RMB 123.3 billion for the first nine months of 2025, a year-on-year increase of 0.95%[6] - The net profit for the same period was RMB 3.14 billion, reflecting a growth of 2.4% year-on-year[6] - The automotive electronics segment is expected to generate RMB 25 billion in revenue for 2025, with a growth rate of approximately 25%[7] - The target price for BYD Electronics is set at HKD 50.10, indicating a potential upside of 51.2% from the current price[9] Group 2: Bilibili - Bilibili's Q3 revenue reached RMB 7.69 billion, a year-on-year increase of 5.2%[13] - Non-GAAP net profit for Q3 was RMB 790 million, a significant increase of 233.3% compared to the previous year[13] - The target price for Bilibili is set at USD 32.00, representing a potential growth of 22.51% from the current price[18] Group 3: SMIC - SMIC reported Q3 revenue of USD 2.38 billion, a year-on-year increase of 9.7%[23] - The gross margin for Q3 was 22.0%, reflecting a 1.6 percentage point increase from the previous quarter[23] - The target price for SMIC is set at HKD 90.00, indicating a potential upside of 21.63% from the current price[26] Group 4: Tencent - Tencent's Q3 revenue was RMB 193 billion, showing a year-on-year growth of 15%[32] - Non-IFRS net profit for Q3 was RMB 70.6 billion, an 18% increase year-on-year[32] - The target price for Tencent is set at HKD 790.00, suggesting a potential increase of 26.7% from the current price[37]

北京商报讯（记者 陶凤 王天逸）11月19日，小米集团宣布，2025 小米"人车家全生态"合作伙伴大会将 于12月17日在北京·国家会议中心举办。 大会聚焦软硬件前沿技术，探索行业新趋势，设有1个主论坛与9个分论坛，涵盖小米澎湃OS、互联网 服务、IoT与生态链业务，并首次纳入汽车CarIoT生态业务。全面展示人、车、家三大场景的超级智能 生态，为合作伙伴搭建协同创新的开放平台，共同推动产业共赢进步。 ...

证券之星消息，11月19日消费电子板块较上一交易日下跌0.25%，福日电子领跌。当日上证指数报收于 3946.74，上涨0.18%。深证成指报收于13080.09，下跌0.0%。消费电子板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600130 | *ST波导 | 4.56 | 5.07% | 63.29万 | | 2.85 Z | | 688775 | 影石创新 | 272.91 | 4.26% | 1.96万 | | 5.33亿 | | 301567 | 贝隆精密 | 45.50 | 3.57% | 5.34万 | | 2.46 Z | | 300843 | 胜蓝股份 | 47.22 | 3.51% | - 15.40万 | | 7.39亿 | | 920857 | 泓禧科技 | 34.49 | 1.71% | 1.93万 | | 6437.81万 | | 688260 | 昀冢科技 | 29.28 | 0.65% | 3.34万 | | 9914.9 ...

比亚迪电子（0285） 更新报告 全年业绩平稳，布局 AI 服务器和机器人产业链 ➢ 2025 业绩预期平稳：比亚迪电子 1-9 月份收入 1233 亿元人民 币，同比增 0.95%；净利润 31.4 亿人民币，同比增长 2.4%。 消费 电子整体与去年同期持平，其中组装业务增长，但零部件业务下 滑。汽车业务同比增长，新型智能产品下滑。三季度盈利能力有所 减弱，展望四季度，预计单季度收入规模与去年同期相当。2025 全 年利润预计同比持平。 ➢ 汽车电子贡献主要增量：公司的智能座舱、智能驾驶、智能悬 架系统、热管理、控制器和传感器产品已实现多产品交付，公司通 过技术创新打破技术壁垒，自主研发核心零部件，具备完善的自主 知识产权，能更好的应对产品降价的压力，维持稳定利润率。但面 对汽车行业日益激烈的竞争，2025 汽车电子的收入规模下调至 250 亿，增速约 25%，低于年初预期。展望 2026 年，单车价值量提升， 高阶智驾、智能悬架等产品渗透率提高，伴随母公司出海带来销量 增量，汽车电子明年有望保持良好增长。 ➢ AI 数据中心、机器人等新业务进展良好：公司拓展了企业级通 用服务器、存储服务器、AI 服务器 ...

「平平无奇」的双十一结束了，不知道大家有没有趁着双十一的优惠，买到自己心仪的数码产品呢？小雷自己今年并没有在双十一期间买手机：一方面，小 雷的旧手机在新 iPhone 推出前一个月就摔坏了，早就换了新手机。另一方面，小雷发现了一个优惠力度比双十一还要大的购机渠道——官翻机。 图片来源：雷科技 以小雷自用的三星手机为例，在淘宝，我们能轻松找到三星官翻机的授权经销商：不久前才发售、用了「升杯」优惠还要 13999 元的 Galaxy Z Fold 7 （12+512GB），在官翻授权企业店只要 11500 元；S25 Ultra 比起全新机更是「直降 2000 元」。 除了小雷喜欢的三星，苹果、华为、OPPO 等品牌在官网或电商平台上也有自己的官翻店铺，甚至连罗技、雷蛇等电脑外设品牌，在电商平台上也能找到对 应的官翻店。 图片来源：Apple 那么，这种由品牌自己背书的「翻新机」，真的靠得住吗？以下是雷科技的看法。 一般来说，这些旧手机被品牌回收后，会按新品的标准重新进行质检，损坏的零件会更换为原厂配件，再经过和新手机相同的出厂测试，最终重新包装，从 而确保到消费者手里的每一台官翻机至少要达到「新机级别」的体验。 ...

Core Viewpoint - Xiaomi Group's stock price experienced a significant decline, dropping to a new low since April 7, with a market capitalization falling below 1 trillion HKD, indicating a substantial loss in value since the annual speech by Lei Jun on September 25 [1] Summary by Relevant Sections - Stock Performance - On November 19, Xiaomi Group's stock opened with a rapid decline, reaching a low of 38.36 HKD [1] - The company's market value has decreased by approximately 550 billion HKD, representing a decline of over 34% since the annual speech [1]

Core Insights - Duan Yongping significantly increased his stake in Berkshire Hathaway while reducing holdings in Apple, Pinduoduo, and Google [1][4]. Holdings Overview - H&H International Investment, managed by Duan Yongping, reported a total portfolio value of approximately $14.7 billion as of Q3 2025, up nearly 28% from $11.5 billion at the end of June [1][3]. - The portfolio includes 11 companies, with Apple being the largest holding at 60.42%, valued at $8.869 billion, followed by Berkshire Hathaway at 17.78%, valued at $2.61 billion [4]. Investment Actions - In Q3, Duan Yongping increased his position in Berkshire Hathaway by over 53%, purchasing put options as the stock price appeared attractive after a decline to around $464 per share [4]. - He reduced his holdings in Alibaba and Nvidia by more than 25%, along with slight reductions in Apple, Pinduoduo, and Google [4]. Market Perspective - Duan Yongping expressed uncertainty about the AI sector but acknowledged the importance of participating in it to avoid missing potential opportunities [6]. - Regarding Apple, he noted that while it may not be a cheap investment, it could still yield significant returns compared to traditional bank interest rates [6].