全球智能手机制造总产量各地区同比占比 智通财经APP获悉，根据Counterpoint Research最新的《全球智能手机制造分布追踪报告》，受关税影响及行业整体发展放缓的冲击，2025年全球智能手 机制造产量预计将同比下降1%，相较于2024年产量4%的同比增长，不难看出市场情况不容乐观。2024年，中国、印度和越南共持有全球智能手机总产量 的90%以上，其中印度增速最快。但是各国制造产量在2025年预计呈现分化态势。 印度预计成为最大受益者，2025年制造产量预计实现两位数百分比增长，达到全球总产量的20%，创下新高。这主要得益于Apple和Samsung持续的生产和 出口需求。与此同时，越南作为全球制造与出口枢纽，在Samsung和Motorola增加生产的情况下，产量预计也能实现稳健增长。 Counterpoint Research资深分析师Prachir Singh指出："随着全球传统电子制造服务（EMS）巨头持续投资印度，加之本土EMS企业积极参与，印度本土制 造能力经过近十年的发展已经显著提升，完全能够满足要求更高的生产需求。同时，印度整体制造业生态体系持续扩张，本土制造在良率与工艺复杂度方 ...

自6月5日华为Pura 80系列开启预约后，截至6月11日下午发布会开始前，已有近28万人预约，显示了影 像旗舰的吸引力。记者了解到，此次Pura80搭载的一英寸超高动态主摄，优化夜景下的火焰、暗光、逆 光人像表现。此外，Pura 80系列升级至第八代ISP，配合一英寸RYYB超大底传感器，令视频能力也获 得升级。 华为常务董事、终端BG董事长余承东表示，华为近十年研发投入超1.2万亿元，2024年研发费用更高达 1797亿元，占全年收入的20.8%，累计全球有效授权专利15万件。 科技市场分析机构Canalys数据显示，2025年第一季度，全球智能手机市场同比增长0.2%，大盘复苏进 入平台期。不过，高端手机市场需求维持韧性。数据显示，一季度全球600美元以上价位段出货量同比 增长12%。华为高端价位段全球市场份额同比增长69%，以9%的市场份额位列第三。 咨询机构纳弗斯分析师李怀斌预计，华为Pura 80系列手机销量有望达上千万台左右。 "目前，鸿蒙日均有400多个应用更新。"余承东表示，鸿蒙生态正以日新月异之势冲刺。鸿蒙5.1将于7 月开启升级。首款鸿蒙AI智能手表华为WATCH 5也已正式亮相。 6月 ...

Core Insights - The technology sector is experiencing significant activity in June, highlighted by the simultaneous product launches from Apple and Huawei, with Apple's WWDC focusing on software upgrades and Huawei's Pura 80 series emphasizing hardware advancements [1] Company Developments - Huawei's Pura series, launched in 2024, continues the legacy of the P series, particularly in mobile imaging technology, which has been a focal point since the P8 to P10 models [1] - The Pura 80 series features advanced camera capabilities, including a dual-focus long-zoom structure that combines a 3.7x medium-long focus lens with a 9.4x super-long focus lens, enhancing image quality [1][2] - Huawei's innovative "one base dual long-focus" camera structure, which allows for optical path switching between long and super-long focus, was first introduced in the Pura 80 series [2] Industry Trends - The imaging technology sector is a critical battleground for smartphone manufacturers aiming to differentiate themselves in the mid-to-high-end market, with significant R&D investments reaching ten-digit figures annually [2][3] - Apple maintains a dominant position in the global high-end smartphone market, holding a 59% share in the $600+ price segment, while Huawei ranks third with a 9% share [4] - In the Chinese high-end market, Apple leads with a 43% share, followed closely by Huawei at 38%, indicating a competitive landscape as Huawei seeks to regain market presence [4]

Investment Rating - The report assigns a "Buy" rating to several companies within the Taiwan Technology sector, including Wiwynn, Wistron, Hon Hai, Gigabyte, and various AI server components [25]. Core Insights - The Taiwan Technology sector is experiencing strong growth in ASIC AI servers and related components, with notable revenue increases reported by key players such as Wiwynn (+187% YoY) and Gigabyte (+108% YoY) [1][8]. - The report highlights a transition in server models expected in 3Q25, with a cautious outlook on rack-level AI server shipments due to macro uncertainties [9]. - The demand for components like liquid cooling, silicon photonics, rail kits, and chassis is anticipated to rise, driven by specification upgrades and the increasing adoption of AI technologies [9][10]. Summary by Sections ASIC AI Servers and Components - ASIC AI servers are showing robust growth, with Wiwynn's revenues up 187% YoY, significantly exceeding estimates [1][8]. - Baseboard-based AI servers also demonstrate strong performance, with Gigabyte achieving 108% YoY revenue growth [1][8]. - Liquid cooling solutions are gaining traction, with AVC reporting 87% YoY revenue growth [1][8]. Market Outlook - The report expresses caution regarding rack-level AI server shipments in the second half of 2025, while maintaining a positive outlook for ASIC and baseboard-based AI servers [9]. - The global market for AI servers is projected to reach 19,000 racks by 2025, indicating a significant growth opportunity [9]. Non-AI Sector Insights - The smartphone supply chain is expected to strengthen in 3Q25, with new high-end models being prepared for launch [10]. - AI PCs are anticipated to see continued penetration, with brands like ASUS and Lenovo leading the charge [10]. Investment Opportunities - Recommended investments include AI server ODMs and brands such as Wiwynn, Wistron, Hon Hai, and Gigabyte, as well as components like AVC, Fositek, and LandMark [11].

Warren Buffett has nearly 23% of Berkshire Hathaway's portfolio invested in two artificial intelligence (AI) stocks: 21.8% is allocated to Apple (AAPL -1.09%), a stock that soared 600% in the last decade, and 0.8% is allocated to Amazon (AMZN 1.75%), a stock that soared 900% in the last decade. Wall Street has downwardly revised estimates due to tariff uncertainty, such that earnings are expected to grow at 6% annually through fiscal 2026, which ends in September 2026. That makes the current valuation of 28 ...

Global Smartphone Market Overview - The global smartphone market is expected to see a year-on-year growth of 0.2% in Q1 2025, indicating a recovery phase [1] - The total global smartphone shipments are projected to reach 1.22 billion units in 2025, reflecting a slight increase of 0.1% compared to the previous year [1] - The market is anticipated to grow at a modest compound annual growth rate (CAGR) of 1% from 2025 to 2029, facing challenges from low-end replacement demand and geopolitical uncertainties [1] High-End Smartphone Market Insights - The high-end smartphone segment (priced above $600) experienced a year-on-year shipment increase of 12% in Q1 2025, driven by manufacturers' commitment to premium offerings and advancements in AI technology [4] - Apple leads the high-end market with a 59% share, showing a 10% growth year-on-year [5] - Huawei's high-end segment grew by 69%, capturing a 9% market share, while Google and Xiaomi also reported significant growths of 21% and 81% respectively [4][5] Regional Market Performance - In the Asia-Pacific region (excluding Greater China), Apple holds a 61% market share in the high-end segment, with a 12% year-on-year growth [7] - In North America and Latin America, Apple dominates with a 71% market share, reflecting an 18% increase [7] - In Europe, the Middle East, and Africa, Apple maintains a 55% share with a 15% growth, while Samsung follows with a 37% share and a 13% increase [9] AI Smartphone Projections - The penetration rate of AI smartphones is expected to reach 34% by 2025, supported by advancements in chip capabilities and model efficiency [9] - Apple leads the global AI smartphone market with a shipment of 43.6 million units, accounting for 58% of the market [12] - In mainland China, Apple also leads with a 40% market share in AI smartphones, followed by Xiaomi with 26% [16] Foldable Smartphone Forecast - The foldable smartphone market is projected to achieve only a 0.1% year-on-year growth in 2025, with major manufacturers attempting to stimulate demand through price reductions and SKU expansions [24] - 2026 is anticipated to be a pivotal year for the foldable market, potentially revitalized by Apple's rumored foldable product [24] 5G Smartphone Outlook - The penetration of 5G smartphones is expected to continue growing, with projections indicating that by 2029, 88% of smartphone shipments will be 5G-enabled [26]

Core Insights - The Latin American smartphone market experienced a year-on-year decline of 4% in Q1 2025, ending six consecutive quarters of growth, with total shipments reaching 33.7 million units [1] Company Performance - Samsung maintained its leading position with a shipment of 11.9 million units, reflecting a year-on-year growth of 7% [1] - Xiaomi ranked second with shipments of 5.9 million units, achieving a year-on-year increase of 10% for the second consecutive quarter [1] - Motorola fell to third place with a shipment of 5.2 million units, experiencing a year-on-year decline of 13% [1] - Honor saw a year-on-year growth of 2%, with shipments reaching 2.6 million units, moving up to fourth place [1] - Transsion ranked fifth with shipments of 2.1 million units, marking a significant year-on-year decline of 38%, representing its first drop in this region [1]

更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha China (PRC) | Technology Equity Research China Smartphone: High Android Inventory; Strong iPhone Sales China's Apr smartphone shipment is down by ~2% YoY, driven by ~2% fall in Android but ~1% growth in iPhone. On a 6-month rolling basis, we est iPhone's inventory days have risen by 11 days, but dropped by 8 days from Mar, while Android's inventory days are up 19 days, down only 1 day from Mar. Android's aggressive 618 discounts have driven only LSD vol growth, while ~30% dis ...

Canalys （现 并入 Omdia ） 最新数据显示 ， 2025 年第一季度 ， 拉美 地区 智能手机市场同比 下跌 4% ，结束了连续六个季度的增长，总出货量为 3370 万部。 三星 以 1190 万部 出货量， 同比增长 7% ， 稳居第一 。其得益于 入门级机型 A06 和 A16 的强劲需求推动，这两款机型几乎占其总出货量的 一半， 这表明 其在低端市场 积极 防守 以 及应对新兴价格导向型竞争对手方面的 战略重点。 小米 以 590 万部 ， 同比增长 10% 连续第二个季度排名第二， 红米 14C 4G 和 Note 14 系列的持续热销 ， 巩固了其在 100 至 299 美元价格段的市场策略。 摩托罗拉 则下降至第三名，出货量为 520 万部，同 比下降 13% 。其对低端产品如 G15 和 G05 的依赖限制了其竞争力。 荣耀 凭借 X 系列的强劲表现， 同比增长 2% ，出货量为 260 万部，升至第四名，持续保持增长势头。主要受激烈竞争及渠道库存调整 的影响 ， 传音 排名第 五，出货量为 210 万部，同比大幅下滑 38% ， 是 其在该地区的首次 出现 下 跌。 Canaly ...

The Apple store on 5th Avenue is seen in New York on April 8, 2025. Forecasts for Apple and Samsung shipment growth this year were sharply slashed by Counterpoint Research on Wednesday amid uncertainty over U.S. tariff policy. The research outfit said it had revised down its 2025 global smartphone shipment growth forecast to 1.9% year- on-year from 4.2% previously, citing "renewed uncertainties surrounding U.S. tariffs." Apple's downgraded shipment growth will be driven by the iPhone 16 series of devices, a ...