Core Viewpoint - Strong demand for the iPhone 17 has significantly boosted Apple's stock price and positioned the company to reclaim its title as the world's largest smartphone maker for the first time since 2011 [1][2][3]. Group 1: Sales Performance - The iPhone 17 has exceeded analysts' expectations for fourth-quarter revenue and earnings per share, contributing to a projected 10% year-over-year growth in smartphone unit sales for Apple [2][3]. - Apple is expected to achieve a market share of 19.4% in the smartphone sector, surpassing current leader Samsung, which is projected to grow by only 4.6% [2][3]. Group 2: Future Outlook - The smartphone market is anticipated to grow by 3.3% year-over-year in 2025, with Apple expected to maintain its leading position through 2029 [3][5]. - The introduction of a foldable iPhone and a budget-friendly iPhone 17e could further enhance Apple's sales in the coming years [5]. Group 3: Financial Projections - Apple CEO Tim Cook expressed optimism about the upcoming December quarter, predicting it to be the best ever for the company and for iPhone sales, with total revenue expected to grow by 10% to 12% year-over-year [6][7]. - Last year's first-quarter revenue was $124.30 billion, and the projected growth would result in this year's revenue ranging from $136.73 billion to $139.22 billion [7]. - iPhone revenue in the first quarter of last year was $69.14 billion, with expectations for this year to exceed $76.06 billion based on a 10% growth rate [8]. Group 4: Stock Performance - Apple stock has seen a 0.6% increase to $278.52, reaching new all-time highs of $280.38 during intraday trading, and is up 14.2% year-to-date in 2025 [10].

Core Insights - Apple is projected to ship more smartphones than Samsung in 2025, marking the first time in 14 years that this has occurred [1][2] Shipment Projections - Apple is expected to ship approximately 243 million iPhone units in 2025, compared to Samsung's 235 million shipments [2] - This will result in Apple holding a 19.4% share of the global smartphone market, while Samsung's share will be 18.7% [2] Sales Performance - The iPhone 17 series, launched in September, has experienced a strong market reception, with sales in the U.S. during the first four weeks post-launch being 12% higher than the iPhone 16 series [3] - In China, sales of the iPhone 17 series during the same period were 18% higher than its predecessor [3] Market Dynamics - The increase in Apple's shipment outlook is attributed to a shift in the replacement cycle, as consumers who bought smartphones during the COVID-19 boom are now looking to upgrade [4] - Samsung faces challenges in the low-to-mid tier smartphone market from Chinese competitors, which may hinder its ability to regain the top position [5]

Core Insights - Samsung has been the market-share leader in the smartphone industry, but the momentum of the iPhone 17 is positioning Apple to potentially reclaim its leading position [1] Group 1 - Samsung has maintained its status as the smartphone industry's market-share leader for an extended period [1] - The introduction of the iPhone 17 is generating significant momentum for Apple, indicating a shift in consumer interest [1] - Analysts suggest that Apple's resurgence could lead to a competitive challenge for Samsung in the near future [1]

11月26日，观察者网独家获悉，原极氪首席商务官关海涛已重回荣耀任职。 根据市场调研机构Counterpoint发布的数据，今年第三季度，国内智能手机市场整体销量同比下降 2.7%，荣耀以14.4%的份额排在第五。 本文系观察者网独家稿件，未经授权，不得转载。 知情人士透露，关海涛入职的是荣耀marketing与销售服务部下辖的"市场营销部"(二级部门)，主要负责 面向海外市场营销和机关营销能力建设。该部门负责人向公司两个一级部门总裁双线汇报，也就是向公 司marketing与销售服务部总裁，以及公司品牌营销部总裁双线汇报。 资料显示，关海涛此前曾任荣耀中国区CMO、电商部部长。2023年，关海涛从荣耀离职加盟极氪出任 CMO，2025年2月担任极氪科技集团首席商务官(CBO)。今年10月，关海涛在朋友圈发文确认即将离 职，并称"即将结束杭漂"。 ...

据悉，折叠屏iPhone Fold原型机内屏尺寸7.74英寸、外屏 5.49英寸，测试版电池容量达5400-5800mAh， 超iPhone 17 Pro Max水平。 11月25日，据环球网报道，富邦研究近日发布行业报告，2026年全球智能手机市场或将持续萎缩，但苹 果公司首款折叠屏iPhone的亮相有望成为市场亮点，其预计售价为2399美元，生命周期销量预计达1540 万部。 苹果公司首款折叠屏iPhone因面板、铰链及轻量化材料等核心组件成本较高，定价被推向市场预测区间 高端。富邦研究结合供应链分析与苹果利润结构，给出2399美元的预测售价。 这也是首次有机构给出明确定价。此前，天风国际证券分析师郭明錤曾预测该机型售价在2000美元至 2500美元之间，知名科技记者马克·古尔曼则预计售价约2000美元。 此外，据环球时报转引MacRumors报道，苹果公司在折叠屏手机研发领域取得关键进展，其首款折叠屏 手机iPhone Fold成功攻克行业核心痛点，实现无折痕设计，有望成为全球首款真正意义上的无折痕折叠 手机。 据供应链透露，苹果此次在折叠屏技术上的突破，核心在于屏幕与铰链系统的创新整合。这款iPhon ...

11月25日，据环球网报道，富邦研究近日发布行业报告，2026年全球智能手机市场或将持续萎缩，但苹 果公司首款折叠屏iPhone的亮相有望成为市场亮点，其预计售价为2399美元，生命周期销量预计达1540 万部。 据悉，折叠屏iPhone Fold原型机内屏尺寸7.74英寸、外屏 5.49英寸，测试版电池容量达5400-5800mAh， 超iPhone 17 Pro Max水平。 此前，有消息称，苹果iPhone Fold "无折痕"屏幕被曝已正式定型，供应链合作伙伴富士康已搭建专属生 产线。 铰链方面，苹果与合作伙伴成功掌握了液态金属打造高强度铰链组件的核心技术。液态金属材料具备低 变形、高韧性的优良特质，不仅能大幅提升折叠屏手机的折叠耐久度，延长产品使用寿命，还能保持机 身握持时的细腻手感，兼顾实用性与体验感。 10月13日，天风国际证券分析师郭明錤发文称，苹果可折叠iPhone铰链的大规模量产成本预计为70至80 美元，远低于此前市场普遍预期的每台100至120美元。 上述富邦研究的分析报告还指出，2026年全球智能手机出货量预计降至12亿台，同比缩减4%；中国市 场出货量约为2.75亿台，同比下降3% ...

Core Viewpoint - Huawei has officially launched the Mate 80 series and the foldable Mate X7, aiming to solidify its position in the high-end smartphone market while enhancing its leadership in foldable technology [1][3]. Group 1: Product Launch Details - The Mate 80 series includes four models: Mate 80, Mate 80 Pro, Mate 80 Pro Max, and Mate 80 RS, starting at a price of 4699 yuan [1]. - The Mate X7 is priced starting at 12999 yuan and represents Huawei's push into the ultra-high-end foldable smartphone market [1]. - Both product lines are equipped with the Kirin 9030 processor, showcasing significant upgrades in imaging, performance, battery life, and AI capabilities [1][3]. Group 2: Foldable Technology and Market Position - Huawei has developed a comprehensive range of foldable screen products, including various folding forms, demonstrating its technological accumulation and market insight [3]. - The foldable smartphone penetration rate is increasing, with user focus shifting to performance, reliability, and the value of large-screen experiences [3][8]. - The Mate X7 features advanced materials and design, achieving a weight of approximately 235 grams and a thickness of 9.5mm when folded, emphasizing durability and reliability [3][5]. Group 3: Imaging and Smart Ecosystem Innovations - The Mate X7 incorporates the second-generation Red Maple imaging system, offering features like high dynamic video and AI effects [5]. - It introduces the industry's first A2A intelligent collaboration, enhancing personalized and intelligent services across various domains [5][6]. Group 4: Competitive Landscape - The high-end smartphone market is highly competitive, with Huawei aiming to expand its market share and reshape the domestic high-end smartphone landscape [8]. - The foldable smartphone's large screen is a key differentiator, transitioning from a niche product to a mainstream device, driven by innovative designs and customized display ratios [8].

Core Viewpoint - Lei Jun, the founder of Xiaomi Corp., purchased approximately HK$100 million ($12.9 million) worth of company stock, which may enhance market sentiment following a more than 30% decline in shares since July [1][2]. Group 1: Stock Purchase Impact - Lei Jun's stock purchase increased his stake in Xiaomi to 23.26%, resulting in a 4.4% rally in shares, marking the largest one-day increase in two months [2]. - Analysts suggest that this unusual move by the founder indicates efforts to stabilize the stock and mitigate further declines [2][3]. Group 2: Historical Context and Buyback Programs - Xiaomi has a track record of executing well-timed buybacks, with several repurchase programs since 2022 that have led to market gains [4]. - The recent buyback by Lei Jun of 2.6 million shares is in addition to the 21.4 billion shares remaining to complete the June buyback program [4]. Group 3: Market Sentiment and Hedging Costs - The relative cost of hedging against fluctuations in Xiaomi shares has decreased from earlier highs, indicating that investors may feel less need for protection [5]. - The spread of one-month implied volatility on Xiaomi stock compared to the Hang Seng Tech Index is currently around 7.5 points, down from an average of 11 over the past year [5].

新京报贝壳财经讯（记者韦博雅）11月25日，华为Mate 80系列手机发布。其中，Mate 80 RS 非凡大师 支持双实体卡和双eSIM。此前，苹果、OPPO已发布支持eSIM的手机。 IDC数据显示，2025年第三季度，华为以1040万台的出货量和15.2%的市场份额，在中国前五大智能手 机厂商市场表现中排名第三。IDC还指出，华为在600美元以上高端市场中占据约三分之一份额。 华为常务董事、产品投资委员会主任、终端BG董事长余承东介绍，华为Mate 80 Pro Max首次实现全金 属设计，并行业首发全金属架构增强天线。余承东表示，该增强天线破解了5G时代因频段多、天线要 求高导致智能手机难以采用全金属机身的行业难题。通过增强天线，Mate 80 Pro Max信号强度比Mate 70 Pro+还提升了1dB。 校对 穆祥桐 除此之外，Mate80系列针对全金属材质可能阻碍无线充电的技术痛点，在底部环形区域隐藏无线充电 线圈，可实现无线充电功能。 价格方面，Mate80售价4699元起，Mate80 Pro售价5999元起，Mate80 Pro Max售价7999元起，Mate80 RS非凡大师售价11 ...

Core Viewpoint - Huawei officially launched the Mate 80 series smartphones, which include Mate 80, Mate 80 Pro, Mate 80 Pro Max, and Mate 80 RS, on November 25 [1]. Display Features - The Huawei Mate 80/Pro features a 6.75-inch OLED display with a resolution of 2832x1280 [2]. - The Mate 80 Pro Max introduces the Linglong screen, boasting a peak brightness of 8000 nits, making it the "brightest smartphone screen in the industry." The screen's peak brightness has increased by 80%, and its lifespan has improved by 40% [4]. Performance Enhancements - The Mate 80 series is equipped with the Ark graphics engine, resulting in a 45% improvement in operational smoothness and a 34% increase in loading speed compared to the Mate 70 series. It also supports 3DGS rendering acceleration, which is 33% faster than the previous series [6]. - The series features the second-generation Hongfeng imaging technology, with the Mate 80 Pro Max's camera allowing for a 96% increase in light intake and a 300% enhancement in high dynamic range [6]. Communication Capabilities - The Mate 80 series supports satellite communication, including Tiantong and Beidou messaging, and is the first to offer 700MHz emergency communication without a network, capable of connecting up to 13 kilometers away [6]. Additional Features - All models in the Mate 80 series are rated IP68 for dust and water resistance and support 50W wireless fast charging. They also run on the HarmonyOS 6 operating system [6]. Pricing Information - Pricing for the new models is as follows: - HUAWEI Mate 80: 12GB+256GB for 4699 yuan; 12GB+512GB for 5199 yuan; 16GB+512GB for 5499 yuan - HUAWEI Mate 80 Pro: 12GB+256GB for 5999 yuan; 12GB+512GB for 6499 yuan; 16GB+512GB for 6999 yuan; 16GB+1TB for 7999 yuan - HUAWEI Mate 80 Pro Max: 16GB+512GB for 7999 yuan; 16GB+1TB for 8999 yuan - HUAWEI Mate 80 RS: 20GB+512GB for 11999 yuan; 20GB+1TB for 12999 yuan [7].