消费方面。春节时餐饮旅游热闹一阵，节后很快就回归平常。但跟以往不同，消费会更理性务实，不再盲目追风。政策上九部门推乐购新春方案，重点以旧 换新补贴返券有奖发票啥的。家电汽车手机大件有针对性支持，绿色产品优先。人们花钱会多想想是不是真需要，而不是跟风买面子货。消费从报复式转向 精打细算，这是个提醒，得注重性价比和实用。 先说就业这块儿。春节过后，大家最操心的就是活儿好找不。数据显示2025年城镇就业稳住了，但稳不等于容易。毕业生人数又涨了，竞争加剧。各地春风 行动提供岗位不少，但结构变了。简单岗位卷得厉害，工资低加班多。 相反，技能型岗位缺人，薪资上浮。人社部计划五大培训行动，针对青年农民工低空经济新能源人工智能等领域。这表明就业从数量导向转到技能导向。普 通人得明白，光会吃苦不够，得有真本事才站得住脚。 不少人觉得预测这事儿挺神秘的，但其实靠谱的判断往往来自于数据和政策走向。把近几年公开信息和机构分析往前推，就能看到一些趋势。结合权威来源 对2026年的看法，如果没啥大意外，春节后国内经济生活可能会出现几个现实变化，跟工作收入房子养老啥的都沾边。 政策五大培训行动盖青年农民工。技能岗位需求旺薪资升。社区服务扩 ...

作者：顾言 出品：#碳基研究院 传音控股有个响亮的名号，非洲之王。 根据IDC数据统计显示，2025年上半年，传音控股在全球手机市场的占有率为12.5%，在全球手机品牌厂商中排名第三，仅次于三星和苹果，力压小米、 OPPO、荣耀、华为等一众国产手机厂商；其智能机在全球智能机市场的占有率为7.9%，排名第六。在非洲市场，公司非洲智能机市场的占有率，排名第 一。 ，赞23 然而，2026年初，非洲之王却发布了一份业绩预告，称净利润同比下滑超五成。曾经凭借极致性价比横扫非洲市场的增长神话，正面临前所未有的考验。 观察者网 打跨传音极致性价比的原因，出乎意料 导致非洲之王业绩下滑的罪魁祸首，是AI产业，但却不是源于AI应用、AI功能、AI手机这些概念。 传音控股的业绩下滑，与当下全球手机市场AI化浪潮中"传统机型被淘汰"的逻辑截然不同。非洲市场的主流需求仍集中在中低端功能机和入门级智能机， AI手机概念尚未对传音的核心业务形成替代威胁。 真正导致传音业绩受损严重的，是AI产业爆发引发的蝴蝶效应。AI技术的规模化应用，直接推高了核心原材料的价格，而主打低价策略、利润空间本就 微薄的传音，根本无法将成本压力有效传导给消费 ...

Core Insights - The rapid increase in memory prices since Q4 2025 has significantly raised costs for smartphone manufacturers, leading to a potential retreat in the industry as companies face tough choices between raising prices or reducing specifications [1][5][8] - Counterpoint research indicates that memory prices may rise by approximately 40% before Q2 2026, further increasing material costs for manufacturers [2] - The smartphone market is experiencing a shift, with manufacturers adjusting their strategies to cope with rising costs, leading to a potential decline in overall market volume and increased competition among brands [8][10] Price Increases and Cost Management - Recent statistics show that new models from brands like Xiaomi, OPPO, and vivo have seen price increases ranging from 100 to 600 yuan compared to previous models, with mid-range models experiencing a price gap increase from 300 to between 400 and 600 yuan [3] - Memory typically accounts for 15% of a smartphone's Bill of Materials (BoM), rising to 20% in mid-range models, while most Chinese smartphone brands have hardware gross margins between 10% and 20% [4] - The price of the mainstream "12GB+256GB" memory configuration has surged by 75% over the past year, raising concerns about consumer willingness to absorb these costs [5] Market Dynamics and Manufacturer Strategies - The pressure from rising memory costs is affecting upstream suppliers, with manufacturers reluctant to pass on costs to consumers for fear of reduced sales, leading to downward adjustments in business plans for 2026 [6][7] - Manufacturers are increasingly focusing on structural adjustments to manage costs, such as changing suppliers or reducing specifications in less noticeable areas [5][7] - The competition is intensifying, with leading brands like Apple and Samsung having more leverage due to their financial stability and long-term supply agreements, while smaller brands face greater challenges [7][8] Market Outlook and Future Trends - The smartphone market in China is projected to see a slight decline in shipments, with major brands like Xiaomi and OPPO reducing their 2026 order quantities by over 20% [8][10] - The trend of "flagship-ifying" mid-range models is reversing, as manufacturers face supply pressures and must focus on high-end models and overseas markets for growth [10] - The global smartphone market is expected to enter a phase of "scale contraction and price increase," with IDC and Counterpoint predicting at least a 2% decline in global smartphone sales this year [10]

以下文章来源于凤凰网科技 ，作者凤凰网科技 本文来自微信公众号： 凤凰网科技 ，作者：凤凰网科技，编辑：董雨晴 年出货量超2亿部手机的传音控股，在2025年营收基本面保持稳固的背景下，净利润却在一年间大幅 蒸发30亿元。这家凭借"非洲之王"称号在资本市场高歌猛进的隐形冠军，究竟遭遇了什么？ 据传音控股最新业绩报告显示，其2025年营收655.68亿元，同比微降4.58%，但归属于母公司股东的 净利润从上一年的55.49亿元骤降至25.46亿元，同比跌幅高达54.11%。其净利率从长期维持的8%左 右，腰斩至不足4%。 这家曾以"极致性价比"和"深度本地化"横扫非洲的隐形冠军，正遭遇着多维冲击，曾经的非洲之王， 将如何渡过这场难关？ 辉煌的起点 凤凰网科技 . 凤凰科技频道官方账号，带你直击真相。 此外，过去传音在非洲是孤独的收割者，现在成了疲惫的防守者。据Omdia报告显示，小米、荣耀等 国内巨头正以惊人的速度涌入非洲。为守住份额，传音不得不投入巨额销售费用和渠道补贴，陷入一 场持续"放血"的价格肉搏战。其利润不仅被直接削薄，本应用于研发和品牌升级的战略资源也被严重 挤压。 理解传音的利润困境，首先要回溯其辉 ...

Core Viewpoint - JD.com is aggressively expanding its partnerships with smartphone manufacturers, indicating both ambition and anxiety in a competitive market [2][12]. Group 1: Strategic Partnerships - JD.com has formed a strategic partnership with Vivo, aiming for a sales target of 100 billion yuan over the next three years, focusing on user engagement, product co-development, and full-channel integration [4][7]. - The collaboration with Vivo will leverage JD's 700 million active users to target high-potential demographics such as Gen Z through joint marketing and member integration [7]. - JD.com has also secured the national agency rights for ZTE, Nubia, and Red Magic, setting a sales goal of 10 billion yuan, aiming to enhance ZTE's market presence through integrated resources [8][9]. Group 2: Business Expansion and Supply Chain Focus - JD.com is diversifying its business into food delivery, dining, and travel, all centered around its core supply chain capabilities [14][16]. - The company has quickly captured a significant market share in the food delivery sector, achieving 25 million daily orders within three months [16]. - JD's approach in the food industry includes using technology to ensure food safety and streamline supply chain processes, reflecting its long-standing operational efficiencies [17]. Group 3: Financial Performance and Challenges - JD.com's Q3 2025 financial report shows a revenue increase of 14.9% to 299.1 billion yuan, but net profit plummeted by 54.7% to 5.3 billion yuan, indicating financial strain from new business ventures [23]. - The company faces challenges in maintaining market share in food delivery, with a drop in user retention once subsidies are reduced, highlighting the volatility of its new business models [24]. - JD's core supply chain efficiency has declined, with inventory turnover days increasing from 30.4 to 35.8 days, and accounts receivable turnover days rising from 5.8 to 8.3 days, signaling operational difficulties [24][25].

前一段在海南和行业专家做一个视频，吃饭闲聊时，他提了一个非常有意思的问题，就是为什么现在大家都感觉经济情况不好？ 但是觉得经济情况不好，钱难赚，工作不好找，大家都面对着压力，这也是普通人切实的感受，原因在什么地方？ 我认真地思考了这个问题，相信产业的聚集效应导致了这个问题的出现。用一个产业分析，大家可以看到其中的问题所在： 我们熟悉的手机行业，曾经这个产业在山寨机时代，中国手机品牌就是500多个，在一些偏僻的地方，比如某一个小县城，根本没有什么知名品牌，只有 某一个小品牌手机，这个手机品牌只是一个省，或几个省销售，在当地形成了相对垄断。这500多个品牌后面，就有几千家，甚至上万家配件供应商，大 家形成一个产业链。 没有产业集聚，众多品牌一窝蜂上，坏处消费者买不到好产品，服务品质也受影响，好处是大量企业的存在，解决了就业，形成了一个规模庞大的生产体 系。山寨机企业的利润并不高，但是几亿利润，甚至几百万利润，很多小老板日子就过得很滋润了。 现在中国的国产手机集中到头部只有几家，主要的厂商也就10家左右了，这些大厂为了保证质量，防止出问题，把众多的配件小厂都砍掉了，只和几十家 大厂合作，为的是保证产品质量，防止产品 ...

在智能手机的战国时代，索尼 Xperia 活像一个身披重甲、手持名刀，领地却在不断被蚕食的末代大名。 2025 年，索尼在全球范围悄悄注销了多个地区的官方媒体账号，即使没有遭到注销的也多半停更。 这一举动在行业看来，无异于在撤退前焚烧军旗。 ▲ 图｜CNET 当「Xperia」这个曾经在数码行业如雷贯耳的名字快要被人遗忘的时候，我们不得不面对一个非常客观且理性的现实—— 索尼的手机业务正在走向终局，但它好像不希望静悄悄地离开。 过去一年，从北美到欧洲，再到东南亚，索尼移动的官方社交账号陆续陷入了沉默，微信上的官方公众号更是直接提桶跑路了： 从市场营销的角度看，这种「数字撤退」其实就是品牌撤离市场的前奏。 毕竟如果关注销售数据，号称整合了「手机、影像和电视」三大部门技术的 Xperia 1 系列自诞生以来，索尼原本半死不活的销量变得更加不忍直视。 ▲ 图｜Reddit 在苹果、三星与中国厂商的夹击下，不仅在重点的中美市场，哪怕是在日本老家，索尼手机的市占率都早已落进了「Others」，和魅族组成一对苦命鸳 鸯。 这种背景下，关闭账号不单纯为了节省运营开支，同时也是索尼的销售策略重构—— 反正无法在「大众消费品」 ...

Core Viewpoint - Transsion Holdings is expected to experience a decline in both revenue and net profit in 2025, with net profit halving, marking the worst performance since its listing [2][3][17]. Group 1: Financial Performance - The company forecasts a revenue of approximately 65.568 billion yuan for 2025, a decrease of about 3.147 billion yuan or 4.58% year-on-year [3][17]. - The expected net profit for 2025 is around 2.546 billion yuan, down by approximately 3.003 billion yuan or 54.11% compared to the previous year [3][17]. - In the first half of 2025, Transsion reported a revenue of 29.077 billion yuan, a decline of 15.86% year-on-year, and a net profit of 1.213 billion yuan, down 57.48% year-on-year [21]. Group 2: Market Challenges - The increase in storage prices has significantly impacted the company's cost and gross margin, with the average price of Transsion's smartphones at 332.1 yuan and feature phones at 50.1 yuan [2][24]. - Competition in key markets such as Africa and South Asia has intensified, with competitors like Xiaomi and Honor showing growth rates of 34% and 158% respectively, putting pressure on Transsion's market share [2][8][23]. - The global smartphone market is experiencing sluggish growth, with a projected 2% increase in shipments for 2025, which is a slowdown compared to 2024 [8][23]. Group 3: Strategic Responses - To mitigate risks, Transsion is diversifying into new businesses such as mobility and energy storage, although its mobile phone business still accounts for about 90% of total revenue [2][12][29]. - The company is exploring various directions for diversification, including electric two-wheelers and energy storage products, but these new ventures currently contribute a limited revenue share [10][27][28]. - Transsion aims to strengthen its local advantages in Africa, enhance its service and channel systems, and accelerate technological upgrades and product innovation to seek breakthroughs in the mid-to-high-end market [10][25][26].

2月2日，第三方调研机构公布的销量数据（Sell out）显示，今年1月，华为以18.6%的的份额再度成为 中国手机市场第一，苹果没有被甩开太大差距，以17.04%的份额紧随其后，OPPO和vivo的份额均在 16%以上，而小米和荣耀分别以14.39%和13.64%的份额位列第五和第六名。 但长期来看，苹果也并非没有难题。 而在华为Mate80上市前，苹果iPhone17系列已在中国打出亮眼表现。根据IDC数据，2025年四季度，苹 果手机在国内市场出货量达1600万台，同比增长21.5%，份额增长至21.2%，均排名市场第一。同期， 苹果大中华区营收达255.26亿美元，同比大增38%。 国外科技媒体 Appleinsider 指出，苹果此前在中国市场已经历了一段漫长的"阵痛期"。面对华为、小米 等本土竞争对手的竞争，iPhone的市场份额曾一度遭到挤压，销量持续呈现下滑趋势，甚至在"双十 一"等关键促销节点，即便采取降价策略也未能完全止住跌势，然而iPhone17系列"加量不加价"，叠加 国补的助推扭转了这一局面，帮助苹果重新夺回了市场主导权。 从全球格局来看，苹果不仅市占率第一，也牢牢主导着高端市场。C ...

Core Viewpoint - Transsion Holdings, known as the "King of Africa" in the mobile phone industry, reported disappointing annual results for 2025, with significant declines in revenue and net profit due to rising supply chain costs and intensified competition in emerging markets [1][3]. Financial Performance - The company expects to achieve approximately 65.568 billion yuan in revenue for 2025, a decrease of 4.58% year-on-year [1]. - Net profit attributable to shareholders is projected to be around 2.546 billion yuan, down 54.11% compared to the previous year [1]. - The first quarter of 2025 saw a revenue decline of 25.45% and a net profit drop of 69.87% [3]. - By mid-year, revenue had decreased by 15.86%, with net profit down 57.48% [3]. - Despite a 22.6% revenue increase in the third quarter, cumulative revenue for the first three quarters still showed a decline of 3.33% [3]. Market Position and Competition - In the third quarter, Transsion achieved a 13.6% year-on-year increase in shipments, reaching 29.2 million units, making it one of the top five global smartphone manufacturers [5]. - However, the company struggled in other quarters, failing to appear in the top rankings during the first quarter and experiencing a 1.7% decline in the second quarter [5]. - In the African market, Transsion maintained a leading position with a 51% market share, but growth has slowed, with competitors like Xiaomi and Honor rapidly increasing their market presence [6]. Challenges in Emerging Markets - Transsion's attempts to replicate its African success in Southeast Asia and Latin America have faced significant challenges, with declining shipments and market share in these regions [7]. - The company reported a 19% year-on-year drop in shipments in the Latin American market during the third quarter [7]. Industry Challenges - Rising storage costs have become a common issue in the smartphone industry, significantly impacting Transsion's operations in price-sensitive emerging markets [8]. - The increase in DRAM prices has raised production costs across all price segments, with the lowest segment experiencing the most significant increase [8]. - The global smartphone shipment forecast for 2026 has been revised downwards, indicating a 2.1% decline, which disproportionately affects the low-price segment where Transsion operates [8][9].