1月23日消息，中兴通讯终端事业部总裁、努比亚技术有限公司总裁倪飞发微博谈#曝20周年iPhone不是 真全面屏#话题时表示，外界一直传闻苹果计划推出屏下摄像真全屏。事实上从2020年开始，中兴就开 始了屏下摄像真全面屏的商用，从中兴Axon20到努比亚Z80 Ultra，已经迭代7代。从突破屏下3D结构 光，到第一代平衡屏幕显示与前置摄像，再到如今Z80 Ultra呈现完美一整块全面屏，前摄近乎隐身，前 置拍照轻松覆盖日常多数场景。 他表示，国产手机在屏下摄像真全面屏的创新探索与商用，早已将苹果远远甩在身后。若iPhone真要等 到2030年才实现商用，那相比国产手机可能就晚了近10年！ 而在近日早些时候，中兴通讯副总裁、努比亚旗舰产品总经理张雷也发微博谈#曝20周年iPhone不是真 全面屏#话题，他表示，全面屏概念炒了这么久，20周年的iPhone还是没兑现？ "全面屏技术的研发需要时间和技术的积累，并不是谁想做就能做出来的。努比亚深耕七代屏下技术， 才有 #努比亚Z80Ultra# 的无挖孔沉浸体验。期待iPhone真的跟进全面屏的那一天。等不及的朋友，可以 看看横扫2025各大榜单的真全面屏Z80U ...

Summary of Conference Call Records Company: ZTE Corporation Key Points - ZTE Corporation's self-developed chip capabilities are gaining market attention, with the company possessing the ability to develop core chips such as CPUs, switching chips, inter-card connection chips, and DPUs [1] - In 2026, multiple product iterations are expected to be launched, highlighting ZTE Micro's undervalued core competitiveness [1] - ZTE Micro's chip self-development capabilities are notable, with anticipated releases including a 51.2T switching chip and a 51.2T inter-card connection chip [1][1] - The company's CPU, the Summit chip, is expanding its market share among operators and has achieved mass application with major clients, which is significant [1] - ZTE is also focusing on breakthroughs in AI, particularly in the DPU and GPU sectors [1] Company: Nubia Technology Key Points - Nubia's smartphone division is enhancing its influence with flagship releases such as the Red Magic 11 Pro series and Nubia Z80 Ultra, integrating AI capabilities deeply with the Doubao model [2] - The company has launched the M153, further collaborating with Doubao to incorporate the Doubao mobile assistant, indicating a strong outlook for Nubia in the AI smartphone sector [2] - In the server domain, Nubia is experiencing high growth driven by breakthroughs with internet giants, with computing revenue increasing by 180% year-on-year, accounting for 25% of total revenue [2] - Server and storage revenue grew by 250% year-on-year, while data center product revenue increased by 120% [2] - Nubia's intelligent computing servers have entered the core business scenarios of major domestic internet and financial companies, including Alibaba, Tencent, ByteDance, Baidu, JD.com, Meituan, and Kuaishou [2] - The company is fully integrating AI and expanding its "connection + computing" strategy, with promising developments in the computing + AI terminal field [2] - Nubia is investing in AI direction, building a core competitiveness in "chips + complete machines + modular R&D + AI" [2][3] Additional Insights - Nubia is positioning itself as a rare leading enterprise in the computing field, spanning across "chips," "connectivity," and "terminals," which enhances its market competitiveness [5] - The introduction of intelligent computing supernode systems aims to support the creation of highly efficient large-scale intelligent computing clusters [4]

Group 1: Live Streaming and Sales Performance - ZTE's Nubia brand experienced a significant increase in online engagement during a live stream, with online viewers doubling and sales tripling compared to daily averages [1] - OPPO reported a remarkable increase in interaction rates, follower growth, and viewing duration, with a 87% increase in viewing time compared to regular daily streams [1] - The "Guanghuo Hang Tianxia" spring promotional event saw a surge in traffic and sales for major smartphone brands, including Huawei, Vivo, OPPO, Honor, ZTE, and TCL [3] Group 2: Promotional Strategies and Consumer Engagement - Vivo's promotional strategy included substantial discounts, with potential subsidies reaching up to 2026 yuan, attracting consumers to the event [4] - The event featured a wide range of smartphone products priced between 2000 yuan and 6000 yuan, aiming to enhance consumer purchasing power [4] - The integration of live streaming with real-time consumer interaction was highlighted as a key factor in driving sales during the promotional event [4] Group 3: AI Technology and Product Innovation - AI hardware devices, including AI smartphones and toys, were prominent in the promotional event, indicating a shift towards AI-driven consumer electronics [3] - The Nubia Z80 Ultra smartphone integrates a local AI engine, allowing users to perform complex tasks through voice commands, enhancing user experience [9] - The event showcased various AI products, including health management robots and interactive AI toys, emphasizing the growing trend of emotional interaction in consumer electronics [12][10] Group 4: Global Market Expansion and Competitive Landscape - Honor's global market strategy has shown significant progress, with a projected shipment of 71 million units by 2025 and a 47% increase in overseas sales [15] - Vivo is expected to achieve global sales of 103.9 million units in 2025, with a market share of 8.2%, and has established a strong user base in India and Southeast Asia [15] - OPPO anticipates global sales of 102 million units in 2025, maintaining a competitive position in the global smartphone market with a focus on localization [17]

Core Viewpoint - ZTE Corporation is currently under investigation by the U.S. Department of Justice regarding compliance with the Foreign Corrupt Practices Act, and the company is committed to defending its rights through legal means while maintaining its operational normalcy [3][4]. Group 1: Compliance and Legal Matters - The company is aware of media reports concerning its compliance investigation and is in communication with the U.S. Department of Justice [3]. - ZTE emphasizes its commitment to strengthening its compliance system and opposes all forms of corruption, maintaining a zero-tolerance policy towards any related individuals [3]. Group 2: Stock Performance and Market Reactions - On December 11, ZTE's A-shares fell over 7% and H-shares dropped more than 9% during the morning session, with its subscription warrant "ZTE BNP Paribas 65 Call A" declining over 28% [4][9]. - Following the announcement of the "Doubao" mobile assistant by ByteDance, ZTE's stock initially surged, with A-shares hitting a daily limit and H-shares rising nearly 14%, but subsequently, both A and H shares fell over 20% from their highs [4]. Group 3: Financial Instruments and Market Dynamics - The "ZTE BNP Paribas 65 Call A" warrant was issued at a price of 0.29 HKD with an exercise price of 40 HKD, and its value has significantly decreased due to the drop in ZTE's H-share price [6]. - Analysts note that the warrant will only have value if ZTE's H-share price exceeds the exercise price at expiration, otherwise it will become worthless [6]. Group 4: Future Outlook and Analyst Sentiment - Analysts remain optimistic about ZTE's future, highlighting its leading capabilities in chip design and development, particularly in the fields of computing and switching chips [7]. - ZTE's self-developed chips and solutions are being utilized by major domestic companies, indicating a strong position to benefit from the domestic computing power development trend [8].

Core Viewpoint - The collaboration between ByteDance and ZTE to launch the AI phone, featuring the Doubao assistant, has generated significant market excitement, pushing ZTE's stock to a halt on the A-share market and causing a nearly 14% surge in Hong Kong shares. However, the long-term impact on ZTE's market position remains uncertain as the smartphone industry is highly competitive and dynamic [1][3][10]. Group 1: Market Reaction and Initial Success - ZTE's stock surged due to the announcement of the AI phone, with trading volume exceeding 13.1 billion [1]. - The Doubao assistant represents ByteDance's first deep integration into smartphone capabilities, marking a potential shift in the Android ecosystem's power dynamics [1][10]. - The initial release of the Nubia M153, equipped with the Doubao assistant, sold out quickly, indicating strong consumer interest [1]. Group 2: Competitive Landscape - ZTE has struggled to maintain a competitive presence in the smartphone market over the past decade, with its Nubia brand not ranking among the top five smartphone manufacturers in China [16]. - The current top five smartphone manufacturers in China, according to IDC data, are Vivo, Apple, Huawei, Xiaomi, and Oppo/Glory, with ZTE's market share being less than 1% [16][17]. - ZTE lacks advantages in both offline and online sales channels, with major competitors dominating these markets [18]. Group 3: Product and Ecosystem Challenges - ZTE's product offerings have been criticized for lacking innovation and competitiveness, particularly in areas like imaging and system performance [19]. - The Doubao assistant may enhance ZTE's appeal, but it does not address the company's fundamental weaknesses in product capabilities and market positioning [25]. - The AI phone's success is contingent on ZTE's ability to leverage the Doubao assistant effectively, but the assistant is not exclusive to ZTE, as other manufacturers are also pursuing similar AI integrations [11][26]. Group 4: Long-term Viability and Strategic Positioning - The introduction of the Doubao assistant may create a temporary boost for ZTE, but the long-term sustainability of this advantage is questionable as the smartphone market evolves towards ecosystem-based competition [30][31]. - ZTE's lack of a clear brand position and ecosystem capabilities limits its ability to capitalize on the AI trend effectively [29][32]. - The competition for control over AI integration in smartphones is just beginning, with ZTE positioned as a minor player in this evolving landscape [31][33].

Core Insights - Qualcomm's fifth-generation Snapdragon 8 Gen 2 mobile platform sets a new performance benchmark for flagship smartphones, showcasing exceptional performance, energy efficiency, and AI processing capabilities [1][17] - The platform has been adopted by 12 flagship smartphone models, including Xiaomi 17 series, Honor Magic8 series, and others, marking a significant advancement in mobile technology [1][17] Performance Enhancements - The Snapdragon 8 Gen 2 is built on a 3nm process and features a custom third-generation Qualcomm Oryon CPU, a new architecture Adreno GPU, and an enhanced Hexagon NPU, achieving significant breakthroughs in peak performance and energy efficiency [3][17] - The CPU shows a 20% increase in single-core performance, 17% in multi-core performance, 32% in response speed, and a 35% improvement in energy efficiency compared to the previous generation [3][17] Graphics and Gaming - The new Adreno GPU reaches a peak frequency of 1.2GHz and introduces dedicated high-speed memory, resulting in up to 38% performance improvement in mobile gaming and a 10% reduction in overall power consumption [4][17] - The platform supports high-load gaming scenarios with enhanced graphics capabilities, providing a smoother and more immersive user experience [4][17] AI Capabilities - The Hexagon NPU offers a 37% increase in overall AI performance and supports processing speeds of up to 220 Tokens/s, enabling advanced features like real-time image recognition and natural language processing [4][17] Flagship Smartphone Models - The Xiaomi 17 series, launched on September 25, features the Snapdragon 8 Gen 2, optimizing performance and power consumption for enhanced user experience [8] - Honor Magic8 series, released on October 15, leverages the platform's AI capabilities for advanced photography and smart interactions [9] - The Red Magic 11 Pro series, aimed at gamers, combines the Snapdragon 8 Gen 2 with proprietary gaming technology for superior performance [10] - Other models like iQOO 15, Realme GT8 Pro, Nubia Z80 Ultra, and Redmi K90 Pro Max also highlight the platform's versatility in gaming and imaging [11][12][13][14][15][16] Market Impact - The rapid adoption of the Snapdragon 8 Gen 2 by multiple flagship models within a month of its release indicates strong market recognition and sets a new standard for mobile device performance [17]

Core Insights - The November 2025 Android smartphone user satisfaction ranking has been released, highlighting the Nubia Z80 Ultra with an impressive 99.99% satisfaction rate, nearly achieving a perfect score [2][3] - Huawei's flagship models, the Mate 70 RS and Mate 70 Pro+, both secured a satisfaction rate of 98.46%, ranking them second, showcasing strong brand recognition in the high-end market [2][3] - Huawei's Mate 70 Pro Enjoy Edition also performed well with a satisfaction rate of 98.24%, allowing Huawei to occupy three positions in the top five, making it the standout brand in this ranking [2][3] Market Performance - The mid-range market is also showing strong performance, with the OPPO K13 Turbo 5G achieving a satisfaction rate of 98.26%, indicating ongoing improvements in user experience for mid-range devices [4] - The top ten models in the ranking represent a diverse array of brands, including realme, Honor, OnePlus, and Samsung, reflecting the competitive landscape and varied development within the Android ecosystem [4]

Core Viewpoint - The collaboration between ByteDance and ZTE to launch an AI smartphone has generated significant market interest, leading to a strong initial performance in the consumer electronics sector, but subsequent stock price corrections highlight ongoing challenges for ZTE and its Nubia brand [1][2]. Group 1: Market Reaction and Product Launch - On December 1, the AI smartphone concept sparked a surge in the consumer electronics sector, with ZTE's stock hitting the daily limit and trading volume exceeding 13.1 billion yuan [1]. - Following the initial excitement, ZTE's AH shares experienced a pullback, with H shares dropping over 6% [2]. - The Nubia M153, priced at 3,499 yuan, was launched with limited availability and quickly sold out, indicating strong initial demand [2]. Group 2: Industry Insights and Competitive Landscape - An industry insider noted that large model assistants may become standard in smartphones, but the competitive landscape will not provide unique advantages as various brands adopt different models [6]. - The integration of AI does not inherently resolve existing issues in smartphone performance, such as camera quality and battery life, which consumers should approach with realistic expectations [6]. Group 3: Nubia's Brand Challenges - Nubia, established in 2012, aimed to penetrate the high-end market but has struggled to maintain a significant market share, often hovering around 1% [7][8]. - Recent product launches have faced criticism for quality control and marketing issues, with the Nubia Z80 Ultra experiencing a problematic launch event [9][10]. - Nubia's high-end aspirations are hindered by a lack of differentiation and a narrow user base, making it difficult to compete against brands that dominate the mid-range market [15]. Group 4: Consumer Feedback and Quality Control Issues - User complaints highlight significant quality control issues, including camera focus problems and software bugs, leading to dissatisfaction with Nubia products [20][21]. - The Nubia Z80 Ultra has not resolved previous issues, with users reporting touch screen failures and overall poor performance [21][34]. - The brand's reputation is further damaged by negative feedback regarding customer service and warranty claims, with many users expressing frustration over unaddressed product defects [34].

Core Insights - The article highlights the emergence of mobile GUI Agents as a competitive focus in the industry, driven by advancements in AI technology and the potential to reshape traffic distribution, creating a market opportunity worth hundreds of billions [1][61]. - Companies like Meituan, ZTE, ByteDance, and others are actively developing and deploying these technologies, with ZTE's Nebula-GUI model achieving significant recognition in benchmark tests [1][2][61]. Group 1: Market Opportunity and Competition - The introduction of GUI Agents is seen as a new frontier in mobile services, with the potential to create a market worth hundreds of billions [1]. - Major players such as Apple, Huawei, and Meituan are investing in this space, indicating a strong competitive landscape [1]. - ZTE's Nebula-GUI model has been recognized for its performance, achieving a score of 84.38 in benchmark tests, particularly excelling in complex tasks like automated ordering and ticket booking [2][3]. Group 2: Technological Advancements - ZTE has developed an end-to-end data preparation system to address challenges in data acquisition for training GUI Agents, significantly improving data quality and efficiency [8][10]. - The Nebula-GUI model has been integrated into over 30 mainstream apps, achieving an average accuracy of over 90% in common scenarios [3]. - The model's capabilities include features like "one-sentence ordering" and "one-sentence photo-taking," enhancing user experience by transforming smartphones into personal assistants [3][61]. Group 3: Data Preparation and Quality - ZTE's automated data pipeline and integrated data annotation tools have improved data annotation efficiency by three times, addressing the scarcity of high-quality Chinese GUI data [12][14]. - The company has created a large-scale Chinese GUI dataset, integrating millions of English GUI samples to enhance the model's training [26][27]. - The automated data preparation system has allowed for a significant increase in the scale and quality of training data, which is crucial for the performance of GUI Agents [8][20]. Group 4: Model Training and Performance - ZTE's approach includes a dual-layer reinforcement learning paradigm that enhances the model's decision-making capabilities and adaptability in dynamic environments [43][55]. - The model has shown an average accuracy exceeding 95% in single-step operations, with some simple commands achieving 99% accuracy [31]. - The introduction of self-reflection and error-correction capabilities has transformed the model from a passive executor to an active task manager, improving its robustness in real-world applications [36][61].

Core Viewpoint - ZTE Corporation emphasizes the integration of AI technology into family life, aiming to make AI a warm companion rather than a cold technology, through innovation and practical applications [1][3]. Group 1: AI Family Experience Day - The event showcased four experience zones: Safety, Care, Joy, and Convenience, reflecting ZTE's core philosophy of "AI Transparency, Technology for All" [3][4]. - ZTE's "All in AI" strategy incorporates AI across various sectors, including network computing and personal products, promoting the idea of "AI for all" through collaboration with partners [3][4]. Group 2: Product Features and Innovations - In the Safety zone, products like AI screens monitor health and detect gas leaks, while AI phones block scam calls, establishing a "hidden defense line" for family safety [4]. - The Care zone features AI that learns family habits and provides emotional support through AI pets, enhancing emotional connections within the family [4]. - The Joy zone offers AI fitness guidance and gaming experiences, transforming homes into interactive spaces [4]. - The Convenience zone includes user-friendly products that optimize home networking, reinforcing ZTE's market leadership in home WiFi solutions [4]. Group 3: Market Position and Strategy - ZTE aims to ship over 100 million home products in 2024, maintaining its position as the global market leader for four consecutive years [5]. - The company boasts a 44.5% market share in cloud terminals in China, serving over 10 million cloud computer users, which supports the implementation of AI in family settings [6]. - ZTE's commitment to user-centric development involves extensive research on the needs of families, particularly the elderly and children, ensuring products align with real-life requirements [5][6]. Group 4: Alignment with National Initiatives - ZTE's AI family strategy aligns with the national "Artificial Intelligence +" initiative, focusing on foundational algorithms and product applications [6]. - The company integrates advanced technologies such as industrial robotics and 5G/6G into its family products, enhancing the overall user experience [6].