Core Viewpoint - The global smartphone industry is shifting from a "growth narrative" to a "value narrative," leading major manufacturers to focus on resource integration and collaborative strategies rather than mere scale expansion [1] Group 1: Company Developments - OPPO has confirmed that realme will return as a sub-brand under its umbrella, aiming for enhanced collaboration and resource integration [1] - Realme's CEO, Li Bingzhong, will lead the overall sub-brand business, while the president of OnePlus China, Li Jie, will maintain his responsibilities [1] - Realme's new products will be released as scheduled and will fully integrate into OPPO's after-sales service system [1] Group 2: Market Context - The backdrop for realme's establishment in 2018 was intense competition in the domestic smartphone market, prompting major brands to seek growth in overseas markets [2] - Realme quickly expanded into multiple global markets, including Singapore, Malaysia, and Pakistan, after its launch in India [3] - By November 2023, realme announced that its global sales had surpassed 200 million units, achieving this milestone in just two years after reaching 100 million [4] Group 3: Industry Challenges - Counterpoint Research predicts a potential 2.1% decline in global smartphone shipments in 2026 due to rising component costs, which have already affected various consumer electronics [6] - The price of memory components is expected to rise by approximately 40% before the second quarter of 2026, further increasing the bill of materials (BoM) costs [7] - The integration of realme back into OPPO is seen as a strategy to leverage collaborative advantages and enhance product differentiation [7] Group 4: Performance Insights - OPPO's growth rate outperformed other major OEMs, with a 2.1% year-on-year increase, largely driven by the stable sales of the Reno 14 series and strong growth from OnePlus [10] - OnePlus achieved a remarkable 42.3% year-on-year increase in sales in 2025, marking the highest growth rate in the industry [10] - The return of realme to OPPO signifies a shift towards a "group army combat" model, raising questions about whether the combined efforts of OPPO's three brands can achieve a synergistic effect [10]

Group 1 - The 2025 China International Digital Interactive Entertainment Expo (ChinaJoy) opened in Shanghai on August 1, showcasing OnePlus smartphones including OnePlus 13, OnePlus Ace 5, and OnePlus 13T [1] - OnePlus set up four gaming experience zones at the exhibition, featuring popular games such as Genshin Impact, Peacekeeper Elite, and Valorant Mobile for hands-on gameplay [1] - The exhibition highlighted OnePlus's self-developed gaming technology "Wind Chaser Game Kernel," which claims to enhance CPU performance and GPU rendering capabilities, supporting native 120 frames per second for multiple games [1] Group 2 - Qualcomm's General Manager of Mobile, Computing, and XR, Alex Katuzan, visited the OnePlus booth, indicating ongoing collaboration between OnePlus and Qualcomm in gaming technology [1] - The "Wind Chaser Game Kernel" is set for upgrades in frame rate stability, image quality, and energy efficiency in the second half of the year, with plans for application in future products [1] - OnePlus hosted four community tournaments daily on the main stage during the expo, inviting professional players and influencers for interactive sessions [1]