背景 ：随着高端智能手机市场竞争加剧，三星正在升级其以旧换新战略，以缩小与苹果长期存在的"价值认知差距"。 2025年初，三星在已有Overtrade促销计划基础上，新增两大区域化项目——面向美国与英国的Galaxy Club，以及针对 韩国与法国市场的Galaxy Trade-In。这三项计划共同聚焦三大目标：提升二手保值率、加速高端机型普及、增强用户粘 性。 形势已然明朗 ：Canalys（现并入Omdia）数据显示，iPhone 15在使用一年后的保值率仍为50%，而Galaxy S24系列仅剩 40%。这种贬值差距削弱了三星的定价能力，并制约其在二手市场的竞争力。2025年第一季度，三星在高端机型市场 （600美元以上价位段）份额仅为22%，远落后于苹果的59%。 本报告将深入解析三星的以旧换新战略组合——Galaxy Club、Galaxy Trade-In与Overtrade——如何缩小这一差距， 并重塑"新机转二手"设备生命周期的市场动态。 Overtrade刺激升级：解读高端市场增长背后的机制 三星 "Overtrade"激励措施：甚至在推出 Galaxy Club 和官方"以旧换新（Trad ...

Core Viewpoint - Jefferies has downgraded its smartphone shipment forecasts for 2025 to 2027 due to a deteriorating outlook influenced by various factors, including U.S. tariff policies, lack of innovation, uncertain economic prospects, high Android inventory, and diminishing Chinese subsidies [1] Group 1: Smartphone Market Outlook - Jefferies has reduced the overall smartphone shipment expectations for 2025 to 2027 by 2% to 4% [1] - The firm noted that the second quarter of 2025 saw a pull-forward demand driven by U.S. tariff policies, but challenges are anticipated in the latter half of the year [1] Group 2: Apple iPhone Performance - Despite the overall smartphone market instability, Jefferies raised its iPhone shipment forecast by 4% due to pull-forward demand and extended discount activities during the "6·18" sales event in China [1] - The industry survey indicated that iPhone sales during the "6·18" event grew by 19% year-on-year, significantly higher than the previous year's 7% growth [1] Group 3: Android Device Performance - In contrast, Android devices experienced minimal growth during the "6·18" event, with a likely year-on-year decline of 4% in sales [1] - High inventory levels (approximately 50 days) prior to "6·18" contributed to the poor sales performance of Android devices, indicating ongoing pricing pressure in the second half of the year [1]

以下文章来源于知彼而知己 ，作者知彼而知己 知彼而知己 . 电脑技术、软件分享 转自：知彼而知己 LG还宣布了一个大日子： 2025年6月30号韩国时间半夜1 2点整 ，它会彻底关掉所有 给老LG手机用的服务和后台支持。换算成北京时间是：2025 年 6 月 29 号 晚上 11 点。 过了这个时间，LG手机上的自动升级服务（FOTA）、更新中心（App Se r v i c e）就全 停了。电脑上那个LG Bri dge 软件也用不了了，这软件本来能让你用数据线备份手机 或者装系统更新。 说白了， 2 0 2 5年6月30号韩国时间半夜之前 ，是你最后的机会升级LG手机系统。LG 也提醒用户："以后我们不再更新手机里的App 了，那些你当初删掉的手机自带软件， 也下不回来了。" LG表示，服务一关，它会马上把收集到的用户个人信息删掉。不过它也补充说："要是 有法律或者公司内部规定要求我们必须留着某些信息，那我们会按规定的期限存着。" 大家都知道，LG以前也卖智能手机，不过2021年他们决定不干这行了。这家韩国大公 司表示：手机行业竞争太猛了，实在拼不过，这是他们退出的主要原因。 看看现在的情况，LG说竞争激 ...

Group 1 - The new regulation from the Civil Aviation Administration of China prohibits passengers from carrying power banks without 3C certification on domestic flights, while high-speed rail does not require such checks [2][3] - The 12306 customer service confirmed that power banks can be carried on high-speed trains as long as they are clearly marked and have an energy rating of no more than 100Wh [2][3] Group 2 - Beijing has announced a new AI education curriculum for primary and secondary schools, set to begin in the fall of 2025, with a minimum of 8 class hours per year [4][5] - The curriculum aims to enhance students' AI literacy and includes topics on AI awareness, application, innovation, ethics, and social responsibility [4][5][10] Group 3 - Elon Musk has reportedly abandoned his political vision of Mars colonization, as stated by investor Peter Thiel, marking 2024 as the year Musk no longer believes in the feasibility of Mars immigration [6] - Musk's xAI has completed a new funding round totaling $10 billion, which includes $5 billion in debt and $5 billion in equity financing [6][7][8] Group 4 - Huawei has announced the open-source release of its large-scale MoE model inference deployment technology, Omni-Infer, designed for high-performance enterprise-level inference capabilities [12][13] Group 5 - Meta has established the Meta Superintelligence Labs (MSL) to integrate its AI research and product teams, with plans to invest significantly in AI infrastructure and talent acquisition [14][15] Group 6 - The sales figures for June show significant growth for various automotive companies, with NIO delivering 24,925 vehicles, XPeng 34,611 vehicles, and BYD 382,585 vehicles, reflecting year-on-year increases [26] - Tesla has raised the price of its Model 3 Long Range version by 10,000 yuan, now priced at 285,500 yuan, while the standard version remains unchanged [18] Group 7 - The global sales of the Nintendo Switch 2 reached 5 million units in its first month, nearly doubling the first-month sales of the previous model [42][43]

Core Viewpoint - The recent rebranding of "Starry Meizu Technology" back to "Meizu Technology" raises questions about potential strategic adjustments within the company, occurring less than a year after a previous major rebranding effort [1] Group 1: Company Changes - The official accounts related to Meizu Technology have removed the "Starry" prefix, indicating a shift back to the original branding [1] - Personnel changes have been noted, with Huang Zhipan taking over as the legal representative and CEO of Zhuhai Starry Meizu Information Technology Co., Ltd., succeeding Su Jing [2] - The company structure shows that Zhuhai Meizu Technology Co., Ltd. and Hubei Starry Meizu Technology Co., Ltd. each hold a 50% stake in the company, with Huang Zhipan being the brother of the founder, Huang Zhang [2] Group 2: Strategic Developments - The rebranding coincides with the third anniversary of Geely's acquisition of Meizu Technology, which has led to significant structural changes and strategic investments [4] - The establishment of the Starry Meizu Group aimed to integrate various technologies, including automotive systems and XR technology, alongside traditional smartphone offerings [4] - The Flyme Auto system has achieved over 1.16 million sales in collaboration with various automotive brands, indicating a successful entry into the automotive technology market [4] Group 3: Product Focus and Market Position - Meizu has launched several AR smart glasses, but the domestic market for smart glasses remains underdeveloped, with no standout products achieving significant sales [5] - The company aims to regain a top position in the domestic mid-to-high-end smartphone market within three years, with plans to establish 1,000 integrated offline experience stores [6] - The upcoming Meizu 22 series is positioned as a flagship product focusing on AI capabilities and compact design, with a strategic shift towards enhancing camera performance [7]

1. 7月1日(周二)美股盘前，美股三大股指期货齐跌。截至发稿，道指期货跌0.12%，标普500指数期货跌0.29%，纳指期货跌0.37%。 个股消息 | ■ US 30 | 44,041.50 | 44,137.00 | 44,022.50 | -53.30 | -0.12% | | --- | --- | --- | --- | --- | --- | | ■ US 500 | 6,186.80 | 6,208.30 | 6,186.60 | -18.10 | -0.29% | | ■ US Tech 100 | 22,595.10 | 22,704.10 | 22,594.80 | -83.90 | -0.37% | 2. 截至发稿，德国DAX指数跌0.68%，英国富时100指数跌0.27%，法国CAC40指数跌0.38%，欧洲斯托克50指数跌0.32%。 | 德國DAX30 | 23,766.67 | 23,975.25 | 23,746.57 | -161.69 | -0.68% | | --- | --- | --- | --- | --- | --- | | 英國富時100 | 8,737.67 ...

1.【雷军：小米 YU7将开启限时改配，但要重新计算预计交付时间】7月1日，小米创办人、董事长 兼CEO雷军在微博发文透露，小米YU7将开启限时改配，7月6日上午10:00到7月7日晚上24点，锁 单用户（非准现车）都可参与改配。如改配成功，将重新安排生产并重新预计交付时间。（界面新 闻） 2.【 宁德时代电池在问界超级工厂正式投产 】宁德时代新能源科技股份有限公司（以下简称 "宁德 时代"）携手问界汽车举办宁德时代电池在问界超级工厂投产仪式，作为宁德时代在渝首个生产基 地，该项目标志着成渝双城经济圈新能源产业链协同发展迈出重要一步。 （ 证券时报） 此外，如果您还想 查公司、找项目、看行业，深入了解人形机器人、商业航天、AGI等热门赛道 ，欢迎加入睿兽分析会员，解锁相关行业图谱和报告等。 （活动期间加入会员可免费获赠一份 产业日报） 扫码订阅汽车交通产业日报， 精选行业新闻，帮你省时间！ 3.【蚂蚁集团、吉利控股等在重庆成立千里智驾科技公司，注册资本 1050万】7月1日消息，天眼查 App显示，近日，重庆千里智驾科技有限公司成立，法定代表人为杨沐，注册资本1050万人民币， 经营范围包括智能车载设备制造、 ...

Core Viewpoint - Transsion Holdings, known as the "King of Africa," is actively seeking new growth opportunities beyond its mobile phone business, particularly by establishing a mobility division to explore electric two-wheelers in developing countries like Africa [1]. Group 1: Business Expansion - Transsion has formed a mobility division to explore electric two-wheeler business, indicating a diversification strategy amid challenges in its core mobile phone segment [1]. - The company is currently hiring for various positions related to its mobility business, suggesting a commitment to this new venture [2][3]. - The electric motorcycle market in Africa is growing, with the number of motorcycles in sub-Saharan Africa increasing from 5 million in 2010 to 27 million in 2022, a growth rate of 440% [2]. Group 2: Market Challenges - Transsion's mobile phone business faced a significant decline, with net profit dropping nearly 70% year-on-year in Q1, and smartphone shipments decreasing from 9.5 million units to 9 million units in the same period [1]. - The company’s market share in Africa has decreased to 47%, down 5 percentage points year-on-year, as competitors like Samsung and Xiaomi gain momentum [7]. - The entry into the electric two-wheeler market presents challenges related to infrastructure, charging facilities, and consumer purchasing power in target markets [6]. Group 3: Competitive Landscape - Competitors are replicating Transsion's successful distribution model, which has led to increased competition in the African market [7]. - Samsung and Xiaomi have regained market momentum, with Xiaomi achieving a 32% year-on-year growth, particularly in Egypt and Nigeria [7]. - Other brands like OPPO and Honor are also increasing their investments and market presence in Africa, indicating a highly competitive environment [8].

证券研究报告·策略报告·策略深度报告 策略深度报告 20250701 7 月港股金股：利好落空后的利好 2025 年 07 月 01 日 [Table_Tag] [观点Table_Summary] ◼ 5 月开始，金管局因港币触及强方保证，下场干预，资金入港，hibor 利 率下跌，投资者觉得是利好。后来发现，这些进来的资金并没有大幅流 入股票，利好变成利空。两个月前阶段性卖出股票离场的资金，因为一 直没有等到市场下跌，在时间成本影响下，不得不在近期再次买入股票， 或将利好港股。 -此前利好：5 月份，资金入港， hibor 下跌，投资者预计增量资金入场。 -转落空：投资者发现，入港资金的投资去处，是存款、套息交易、债券、 打新股和加密货币等。这些资金并没有大幅投资二级市场股票。即使打 新股，上市后就立刻卖出。比如，海天味业获得超过 60 倍认购，但上 市后价格持平，没有上涨。说明部分资金在上市便锁定收益，并不停留 在股市上。 -或将转利好：有些资金仍然会依据过去三年的经验，在市场高位卖出， 然后等待市场下跌后再买入。经历了 5 月香港大规模资金入场，压低利 率后，转为利空，市场迟迟没有下跌。直到现在，这些资 ...

" 技术至上，小米凭实力突围 。 " 作者丨雪银 编辑丨 林子川 "这个世界不会永远是强者恒强，后来者总有机会。" 雷军多次在公开场合强调的口号，在 2025 年夏天 有了更具象的注脚。 $$\Theta\Phi$$ 在成立 15 周年的关键节点，小米迎来了发展的新起点。财报数据持续向好，核心业务稳健增长；高端化 战略成效显著，2025年第一季度小米手机时隔十年重回全国销量榜首；"人车家全生态"发力，智能大家 电出货量实现翻倍增长，小米门店突破两万家……曾被视作 "不可能" 的目标一次次被小米化作现实。 从 "千元机终结者" 到 "造车新势力头部"，从手机单品到人车家全生态，小米始终在争议中突破行业认 知。 当行业还在沉迷内卷时，小米已带着技术理想主的坚定信念，将目光投向了全球科技的尖端 —— 用产品 实绩回应争议，以核心技术构建护城，小米成功的秘密可在其15年的风雨兼程中窥得一二。 小米大心脏：在质疑中崛起 事实上，小米并不是第一个在质疑中崛起的企业。 6 月 26 日晚，小米人车家全生态发布会一结束 ，小米 YU7 开售 3 分钟大定突破 20 万辆的消息便登上 热搜，作为小米造车的第二枪，小米YU7 的 ...