虽然B站上都在说小折是"美丽的小废物"，但是小米推出了MIX Flip一代后，意外的卖得还不错。所以 在MIX Flip 2推出后，我们试着代入目标用户视角实打实地体验了一个月，结果发现有些东西它确实做 对了，但与此同时，它也有一些还不是很让人满意的小槽点。本期视频咱们就先来聊聊MIX Flip 2的小 槽点，再去聊它做对了什么。 ...

Core Viewpoint - The article highlights the strategic development of the next-generation display industry in Shanghai, focusing on technologies such as Micro LED, silicon-based OLED, and flexible displays, which are essential for the metaverse and high-definition visual experiences [1][3][4]. Group 1: Action Plan Overview - The Shanghai Municipal Economic and Information Commission released the "Action Plan for High-Quality Development of the Next-Generation Display Industry (2026-2030)", aiming to cultivate over three leading domestic enterprises in key technologies [1][4]. - The plan emphasizes the construction of a comprehensive "1+2+3+4" industry system, targeting a complete industrial chain and ecosystem by 2028, with international competitiveness by 2030 [4]. Group 2: Smart Glasses Development - The action plan encourages the development of smart glasses production capabilities, including the establishment of intelligent and automated production lines [2][4]. - It aims to foster AI+AR and AI+MR glasses, focusing on lightweight, low power consumption, high resolution, and wide field of view technologies [4]. Group 3: Next-Generation Display Applications - The plan explores innovative applications of next-generation display technologies in various sectors, including automotive displays, holographic displays, and electronic paper displays [5]. - It aims to enhance product innovation in car displays, such as instrument panels and head-up displays (HUD) [5]. Group 4: Micro LED and Silicon-based OLED Technologies - The initiative supports the mass production of full-color Micro LED micro-displays, targeting breakthroughs in low-power CMOS backplanes and high PPI Micro LED arrays [6]. - It also focuses on advancing silicon-based OLED technology for ultra-high resolution displays, addressing issues like color reproduction and latency [6]. Group 5: Market Outlook for AI Glasses and Mini LED - Global sales of AI smart glasses are projected to reach 550,000 units in Q1 2025, with significant contributions from brands like Ray-Ban Meta and Xiaomi [8]. - The Mini LED backlight module market is expected to grow to 15.6 billion yuan by 2028, with a CAGR of 29% from 2024 to 2028, indicating strong growth potential in the display technology sector [10].

Group 1 - Xiaomi recently launched the MIX Flip 2 foldable phone, which is powered by the Snapdragon 8 Gen 2 processor instead of the self-developed玄戒O1 chip, with a starting price of 5999 yuan [1] - Xiaomi's official response to the absence of the玄戒O1 chip in the MIX Flip 2 indicated that the chip was primarily for technical validation and the initial production plan was limited, unable to meet the mass production needs of the foldable product [1] - The玄戒O1 chip is currently only used in a few products, including the Xiaomi 15S Pro and Xiaomi Pad 7 series [1] Group 2 - In Q2 2025, Xiaomi (including REDMI) achieved an activation volume of 11.42 million units, leading the Chinese smartphone market with a market share of 16.63%, representing a year-on-year growth of 7.39% [3] - Vivo (including iQOO) followed closely with an activation volume of 11.24 million units and a market share of 16.37%, but experienced a year-on-year decline of 5.95% [3] - OPPO (including OnePlus and realme) ranked third with 11.17 million units activated and a market share of 16.27%, showing a year-on-year growth rate of 10.48% [3] - Huawei and Apple ranked fourth and fifth, respectively, with activation volumes of 11.04 million and 11.04 million units, both holding a market share of 16.08%, with year-on-year growth rates of 10.96% and 8.46% [3] - There are reports of progress in Xiaomi's next-generation self-developed baseband, but uncertainty remains regarding whether the玄戒O2 will utilize the self-developed baseband [3]

Core Viewpoint - The shift in user complaints from hardware to software in the smartphone industry highlights the growing dissatisfaction among flagship users regarding the lack of timely updates and exclusive features for new models, leading to a perception of neglect for older models [1][15][19] Group 1: User Experience and Expectations - Users of flagship models feel frustrated when new features are exclusively available on mid-range devices, despite having paid significantly more for their devices [3][15] - The perception of being treated as less valuable compared to new device users creates a sense of betrayal among loyal customers [15][19] - The introduction of features that are not fully available to older models, such as limited filter options, exacerbates user dissatisfaction [7][19] Group 2: Manufacturer Strategies - Manufacturers are under pressure to innovate in the mid-range market, leading to the introduction of exclusive features that may alienate existing flagship users [4][16] - The "ocean of products" strategy, where companies release numerous models, complicates the upgrade process and diminishes brand loyalty among consumers [16][19] - The focus on high-end products is becoming essential as the smartphone market matures, with companies needing to balance new releases with customer satisfaction [21][23] Group 3: Market Dynamics - The competitive landscape has intensified, with companies launching multiple models in quick succession, which can confuse consumers and dilute brand identity [16][21] - The shift towards high-end products is seen as a necessary strategy to counteract declining sales in lower segments, as the market becomes saturated [21][23] - Companies that can streamline their product lines and focus on quality over quantity are likely to succeed in maintaining market share and customer loyalty [23]

Core Viewpoint - Xiaomi clarified that the absence of the玄戒O1 in the MIXFlip2 is due to its initial planning for limited production capacity, which cannot meet the mass production needs of the foldable product [1] Group 1 - Xiaomi officially stated that the玄戒O1, being the first generation SoC of the玄戒 series, was primarily intended for technology validation [1] - The company indicated that the total planned quantity for the玄戒O1 was relatively limited from the beginning of the project [1] - This limitation in production capacity is a key reason for not incorporating the玄戒O1 into the MIXFlip2 [1]

Core Insights - The domestic foldable smartphone market has entered a new phase of competition with the launch of several new products from leading manufacturers, including vivo's X Fold 5, Xiaomi's MIX Flip 2, and Honor's Magic V5 [1][2] Group 1: Product Launches - Honor's Magic V5, launched on July 1, is positioned as the lightest and thinnest foldable flagship, featuring a Snapdragon 8 Gen 2 chip, a thickness of 8.8mm, a weight of 217g, and a battery capacity of 6100mAh [1] - The starting price of Magic V5 remains at 8999 yuan, consistent with the previous model, Magic V3, despite significant improvements in processor performance and system connectivity [1] Group 2: Market Position and Strategy - Honor's market share has declined, dropping from first place to sixth with a 13.7% market share in Q1, largely due to slow product updates and a lack of competitive models in the mid-to-high-end market [2][4] - The launch of Magic V5 is seen as crucial for Honor to regain market momentum and demonstrate its AI strategy to investors [2] Group 3: Industry Trends - Honor has established a comprehensive product matrix across all price segments since its independence in 2020, including various series and foldable products [4] - According to IDC, Honor is projected to achieve 1.89 million units in foldable smartphone shipments and a 20.6% market share in 2024, ranking second in the domestic market behind Huawei [4] - The foldable smartphone segment is expected to evolve, with a shift towards scenario-based innovations and enhanced user experiences, as indicated by Honor's plans for future product upgrades [5] Group 4: Competitive Landscape - The entry of Apple into the foldable smartphone market, with prototype testing expected to begin in mid-2025, is viewed as a motivator for Honor and could stimulate consumer interest in foldable devices [5]

Core Viewpoint - The company has launched new products including Xiaomi YU7, Xiaomi MIX Flip 2, and Xiaomi AI glasses, enhancing its ecosystem across vehicles, homes, and personal devices [2][3] Product Launch - On June 26, the company held a launch event introducing the Xiaomi YU7 in three configurations (Standard, Pro, and Max), which supports external voice commands and achieved over 200,000 pre-orders within three minutes. The Xiaomi AI glasses, weighing 40g and equipped with a 12MP camera, are priced starting at 1999 yuan and serve as a personal AI device [2] Research and Development - The company emphasizes its commitment to R&D, planning to invest 200 billion yuan in core technology areas over the next five years, focusing on chips, AI, and operating systems [2][3] Market Positioning - The company is well-positioned as a consumer-oriented enterprise, effectively addressing consumer needs and expanding its AI application across mobile phones, vehicles, and smart home devices, thereby achieving comprehensive coverage of AI applications [3]

Core Viewpoint - The company has launched new products including the Xiaomi YU7 SUV and Xiaomi AI glasses, enhancing its ecosystem in the automotive and smart device sectors, with a strong focus on technology and R&D investment [1][2][3]. Product Launch - The Xiaomi YU7 SUV was unveiled with three versions: Standard, Pro, and Max, featuring a maximum speed of 22,000 rpm and a range of 760 to 835 km. The vehicle received over 200,000 pre-orders within three minutes of launch [1][2]. - The Xiaomi AI glasses, weighing 40g and equipped with a 12MP camera, are designed as a personal smart device with capabilities for photography, video recording, and third-party app support. The starting price is 1,999 yuan [1][3]. R&D and Market Strategy - The company plans to invest 200 billion yuan in core technology R&D over the next five years, focusing on chips, AI, and operating systems [1][2]. - The company aims to cover all AI application scenarios, integrating AI with mobile phones, vehicles, and smart home devices, positioning itself to benefit from the accelerating development of AI applications [2][3]. Financial Projections - The company has revised its revenue forecasts for 2025-2027, expecting a growth of 35.7%, 27.2%, and 14.8%, reaching 496.7 billion, 631.8 billion, and 725.1 billion yuan respectively. Net profit is projected to grow by 64.2%, 28.4%, and 32.7% during the same period [2][3]. - The current price-to-earnings ratios are projected to be 36.7, 28.6, and 21.6 for the years 2025, 2026, and 2027 respectively [2][3].

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [2][4][10] Core Views - The company has launched new products including the Xiaomi YU7 SUV and AI glasses, enhancing its ecosystem across vehicles, homes, and personal devices [3][4][10] - The company emphasizes R&D investment, planning to allocate 200 billion yuan over the next five years to core technology areas [3][4] - The company is expected to benefit from the accelerated development of AI applications, with a comprehensive strategy covering AI-enabled devices across various sectors [4][10] Financial Projections - Revenue is projected to grow by 35.7% in 2025, 27.2% in 2026, and 14.8% in 2027, reaching 496.7 billion, 631.8 billion, and 725.1 billion yuan respectively [4][10] - Net profit is expected to increase by 64.2% in 2025, 28.4% in 2026, and 32.7% in 2027, amounting to 38.8 billion, 49.9 billion, and 66.1 billion yuan respectively [4][10] - The current price-to-earnings (P/E) ratios are projected to be 36.7, 28.6, and 21.6 for the years 2025, 2026, and 2027 [4][10] Product Launches - The Xiaomi YU7 SUV has three versions with significant pre-order success, exceeding 200,000 units within three minutes of launch [5][10] - The AI glasses are designed as a personal smart device with a weight of 40g and a 12-megapixel camera, priced starting at 1999 yuan [3][7][10]

Investment Rating - The report suggests a standard investment rating for the electronic industry, indicating a moderate recovery in demand and price stabilization [7]. Core Insights - The electronic industry is experiencing a mild recovery, with a focus on AI-driven innovations and wearable technology, particularly in the context of Xiaomi's recent product launches [6][12]. - Xiaomi's AI glasses have competitive advantages over Meta's offerings, including lighter weight and longer battery life, which may strengthen its market position [6][12]. - The report highlights four main investment themes: AIOT, AI-driven innovations, materials for devices, and consumer electronics [6]. Summary by Sections Industry News - Xiaomi launched its first AI glasses, which sold out within 30 minutes, positioning them against Meta's Ray-Ban [12]. - The Xiaomi YU7 SUV was introduced, featuring advanced driving assistance systems and a starting price of 253,500 RMB [12]. - The report notes the global smart glasses market is expected to reach 12.8 million units in 2025, with a 26% year-on-year growth [6]. Market Performance - The report indicates that the electronic industry outperformed the broader market, with the Shenwan Electronics Index rising by 4.61% compared to a 1.95% increase in the CSI 300 Index [19][21]. - Various sub-sectors within the electronics industry showed positive performance, with semiconductor and electronic components leading the gains [21]. Investment Recommendations - The report recommends focusing on companies benefiting from strong domestic and international demand in the AIOT sector, such as Lexin Technology and Rockchip [8]. - It also suggests investing in AI innovation-driven sectors, particularly in computing chips and optical devices [8]. - The report emphasizes the importance of domestic supply chain replacements in semiconductor equipment and materials [8].