折叠屏手机的 "折痕" 与平整度，始终是困扰行业和消费者的关键难题。而 OPPO Find N6 之所以能脱颖 而出，核心在于其首发的两项行业 "黑科技"：无痕钛合金铰链与自修复记忆玻璃。双技术组合拳的加 持，不仅从硬件结构层面攻克了折叠形态的物理局限，更在屏幕防护与耐用性上实现突破，真正做到了 "视觉无折痕，使用更安心"。 (11387304) 更值得关注的是，该消息还透露了一个行业重磅线索：某国际大厂今年推出的折叠机，正在借鉴 OPPO 的技术方案，且进度落后约半年。结合当前行业格局，这一 "国际大厂" 的指向性极为明显，外界普遍 猜测正是苹果。作为智能手机行业的巨头，苹果迟迟未推出折叠屏产品，此前便有多方消息称其首款折 叠 iPhone 将于 2026 年亮相。如今若证实其方案借鉴 OPPO 且进度滞后，无疑印证了国产厂商在折叠屏 赛道的技术领跑地位。从铰链结构到屏幕技术，OPPO 已从 "跟跑者" 成长为 "规则制定者"，在折叠屏 核心技术领域实现了对国际大厂的弯道超车。 【ZOL中关村在线原创新闻】有数码博主放出重磅独家消息，OPPO Find N6 正式斩获莱茵认证，被官 方认证为全球最平整的折叠 ...

Core Viewpoint - Xiaomi is challenging an Indian tax ruling that claims the company evaded $72 million in tariffs on royalty payments, which could have significant implications for the contract manufacturing industry in India [1][3][6]. Group 1: Tax Dispute Details - An Indian tax tribunal ruled that Xiaomi undervalued import values for at least three years leading up to 2020 by not including 2% to 5% royalties paid to foreign firms like Qualcomm [2]. - Xiaomi argues that the tribunal incorrectly classified it as the "beneficial owner" of the components, which led to the tax on royalties [3]. - The tribunal's decision is seen as damaging to established practices in the manufacturing sector, according to Xiaomi [4]. Group 2: Implications and Reactions - The case is being closely monitored by global investors and companies, as a ruling in favor of Indian authorities could increase scrutiny on royalty agreements across various sectors [6]. - If the ruling is upheld, it may empower authorities to seek taxes on other related payments made by companies exercising effective control over imported goods [6]. - Xiaomi's former contract manufacturers, Flextronics and Bharat FIH, are also contesting the tribunal's decision in the Supreme Court [5]. Group 3: Financial Impact - The customs tax demand of $72 million could escalate to over $150 million with interest and penalties if Xiaomi loses the case, which could strain the company's finances given its profits of $31.7 million in the 2023-2024 financial year [9]. - Additionally, approximately $610 million of Xiaomi India's bank funds have been frozen due to allegations of illegal remittances, further complicating the company's financial situation [10]. Group 4: Legal Proceedings - During a recent hearing, Xiaomi's lawyer argued that import taxes should be paid by the importers (contract manufacturers) and that royalties should not be taxable as they are not linked to imports [11]. - The Indian tax tribunal accused Xiaomi of "deliberate suppression of facts," asserting that royalties need to be taxed as they are for critical technology related to imported parts [11].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ （来源：智通财经） 2025年的智能手机大战中，Air是一个关键的变量。 2025年10月发布的iPhone Air，是去年关注度最高的苹果新品之一。它的亮点在于极致轻薄，机身厚度 仅5.6mm。但也由于追求轻薄，iPhone Air牺牲了续航（电池容量仅为3149mAh）与部分影像功能，这 也间接影响了它的销量。 据《The Information》报道，苹果重要供应商富士康已拆除了大多数iPhone Air生产线，"仅留下了一条 半的生产线"。而在今年1月，苹果官方旗舰店宣布iPhone Air全系产品直降2000元，从7999降至5999 元，这也是苹果进入中国市场以来速度最快、力度最大的一次调价。 iPhone Air的市场冷遇，在一定程度上影响了国内手机厂商的规划。智通财经曾在去年11月报道，小 米、OPPO、vivo等手机厂商都取消了各自的Air机型项目，并将原本搭载在Air机型上的eSIM方案放到 常规机型中。 多家头部厂商相继砍掉Air项目，荣耀却成为少数仍在推进的厂商之一。1月19日，荣耀Magic8 Pro Air ...

Core Insights - The European smartphone market experienced a 1% decline in 2025, totaling 134.2 million units, attributed to subdued demand and new eco-design regulations [1] - Samsung maintained its position as the largest smartphone vendor in Europe, with shipments slightly increasing to 46.6 million units [1] - A slow first half of 2025 was noted due to the absence of the Galaxy A0x series, but Samsung rebounded in the second half of the year [1]

Core Viewpoint - The upcoming Nothing Phone (4a) introduces significant design changes and hardware upgrades, including a new "Glyph Bar" and a pill-shaped camera module, while retaining the brand's transparent design language [1][9]. Design Changes - The Phone (4a) features a new pill-shaped camera module, replacing the circular Glyph Interface from the previous model [1][9]. - The back panel design has been slightly altered compared to the Nothing Phone (3a) [2][9]. - The new "Glyph Bar" includes nine individually controllable mini-LEDs that are 40% brighter than previous models, utilizing patented technology for improved glow quality [4][9]. Hardware Specifications - The Phone (4a) is expected to be powered by a Snapdragon processor, likely the Snapdragon 7s Gen 4 chipset, following the Snapdragon 7s Gen 3 used in its predecessors [6][9]. - Anticipated specifications include a 6.78-inch AMOLED display, up to 12GB of RAM, and 256GB of storage, along with a 5,400mAh battery supporting 50W wired charging [7][9]. - The camera setup is rumored to consist of a 50MP primary sensor, an 8MP ultrawide lens, and a 50MP telephoto shooter with 3.5x optical zoom [7][10]. Launch Details - The Nothing Phone (4a) is set to launch on March 5, alongside the Phone (4a) Pro, and will be available in India through Flipkart [9][10]. - Expected color options for the devices include Black, White, Blue, Silver, and Pink [9][10].

本报告利用定量问卷调研、专家访谈及桌面研究多种研究方法，综合分析了折叠屏手机行业的发展现状、市 场竞争格局、用户行为及需求，预测产品未来趋势。报告指出，全球折叠屏手机市场持续增长，尤其是中国 市场表现突出，技术进步和产业链完善推动了产品形态的多样化。在竞争格局方面，中国成为全球折叠屏手 机的主要增长引擎，市场份额呈现集中趋势，华为以较高的份额持续引领行业。用户对折叠屏手机购买意愿 不断提高，对产品功能和体验有更高要求。展望未来，折叠屏手机产品将实现从小众市场向大众市场过渡， 市场需求持续增长，硬件优化创新和软件协同生态构建和智能交互体验的提升将是关键发展方向。随着消费 者对折叠屏手机认可度提升，购买意愿增强，折叠屏手机消费将逐步实现从"猎奇尝鲜"到"信赖常用"的转 变。 全球智能手机市场已全面进入存量竞争 2014年-2017年期间，智能手机市场仍处于增量发展阶段，全球出货量由12.4亿部增长至14.6亿部的 峰值。自2017年起，市场进入存量竞争阶段，年均出货量下降约2.52%，至2024年全球智能手机出 货量已降至12.2亿部。 折叠屏手机 丨洞察 报告 摘要： 折叠屏手机成为突破市场增长瓶颈的战略方向 ...

Core Viewpoint - The Trump administration is expected to add Alibaba and other Chinese firms to a list of companies allegedly aiding China's military, which could impact their future contracts with the U.S. government [1]. Group 1: Companies Involved - Alibaba is among the companies expected to be added to the Pentagon's 1260H list, which includes major firms like Tencent Holdings and CATL [1]. - Other firms mentioned for potential inclusion are AI firm DeepSeek, smartphone maker Xiaomi, and electronic display maker BOE Technology [1]. Group 2: Implications of the List - Being added to the list does not impose formal sanctions but prevents the Pentagon from contracting with these companies in the future [1]. - The update to the list may strain U.S.-China relations, especially following a recent trade truce between Xi Jinping and Donald Trump [1].

Core Insights - The overall smartphone market in China is projected to decline by 23% year-on-year in January 2026, primarily due to the high base effect from subsidy policies in early 2025, reduced subsidy intensity in 2026, and the impact of the Lunar New Year on consumer spending [1][3] Group 1: Market Performance - Huawei leads the market with a 19% share but faces a 27% year-on-year decline in sales, influenced by high base effects and underperformance of the Nova series [1] - Apple is the only major brand to achieve growth, with an 8% increase in sales and market share reaching its highest level in nearly five years, driven by the popularity of the iPhone 17 series [3] - Other domestic brands experienced significant declines: Xiaomi (including Redmi) down 36%, vivo (including iQOO) down 29%, OPPO (including OnePlus and realme) down 19%, and Honor down 26% [3] Group 2: Market Dynamics - The decline in sales for many brands is attributed to the "overdraft effect" of the subsidy policy from early 2025, which pulled forward demand due to the timing of the Lunar New Year promotions [3] - Despite the January market slump, there is an optimistic forecast for February, as seasonal consumption during the Lunar New Year is expected to boost sales, providing a critical window for inventory clearance and performance improvement for manufacturers [3]

Core Insights - Apple shares have appreciated 18.1% over the past six months, outperforming the Zacks Computer and Technology sector's return of 10.2, driven by strong iPhone 17 sales and growth in Services [1][8] iPhone Sales Performance - iPhone 17 sales increased by 23.3% year over year to $85.27 billion, accounting for 59.3% of first-quarter fiscal 2026 net sales [1][8] - The strong sales of iPhone 17 significantly boosted revenues in China during the first quarter of fiscal 2026 [1] Services Growth - Services contributed 20.9% to quarterly revenues, growing 14% year over year to $30.01 billion, aligning with management guidance [1] - The Services segment includes advertising, AppleCare, Cloud Services, and digital content, achieving all-time revenue records in the first quarter of fiscal 2026 [6] AI Initiatives and Collaborations - Apple is enhancing iPhone features through Apple Intelligence tools and a collaboration with Alphabet, which is expected to improve the capabilities of Apple Intelligence [2][3] - The partnership with Alphabet aims to address execution challenges and enhance the adoption of Apple Intelligence among developers [5] Market Position and Valuation - Apple shares have outperformed Microsoft and Amazon but underperformed Alphabet in the past six months, with Alphabet shares rising by 53.9% [11] - Apple's stock is trading at a premium, with a forward price/sales ratio of 8.56, compared to the sector's 6.51 and Microsoft's 8.43 [14] Fiscal Estimates - The Zacks Consensus Estimate for Apple's fiscal 2026 earnings has increased by 3.2% to $8.41 per share, indicating a 12.7% growth from fiscal 2025 [9] - The revenue estimate for fiscal 2026 is pegged at $461.12 billion, reflecting a 10.8% growth over fiscal 2025 [10] Conclusion - Apple's strong iPhone and Services business, along with the expanding AI capabilities from the collaboration with Alphabet, are expected to drive future growth, justifying a premium valuation despite competitive pressures [17]

Market Overview - The active installed base of smartphones in India exceeds 740 million, representing more than half of the country's population of 1.45 billion [1] - India accounts for 14% of the global installed base of smartphones, while China leads with a 19% share, equating to approximately 1,005 million devices [2] Retention and Longevity - The average smartphone retention period in India is currently 42 months, which is slightly lower than the global average of 47 months [2][6] Brand Leadership - Xiaomi holds the largest active installed base in India, despite a decline in market share as it shifted focus from affordable devices to the premium segment [3] - Xiaomi's older Redmi and Note series continue to be widely used, indicating long shelf lives before users upgrade [3] - Globally, Xiaomi ranks third in terms of active installed base, with only Apple and Samsung surpassing the 1 billion mark [4] Competitive Landscape - Eight brands have active installed bases exceeding 200 million units globally, including Apple, Samsung, Xiaomi, Oppo, Vivo, Honor, Transsion, and Huawei, collectively controlling over 80% of the global smartphone installed base [5] - Motorola, Realme, and Google remain below the 200 million mark, with Motorola and Realme nearing that threshold [5]