Group 1 - The demand for OLEDoS micro-displays in near-eye display devices such as AR, VR, and MR is expected to reach 31.5 million units by 2030, with a compound annual growth rate (CAGR) of 81% from 2025 to 2030 [2] - TrendForce has revised the global laptop shipment forecast for 2026 to a decrease of 5.4%, down to approximately 173 million units, reflecting a conservative approach by brands due to rising memory prices and cost pressures [3][5] - TCL CSOT has successfully acquired 80% of the shares and related debts of Zhaoyuan Optoelectronics, marking its entry into the LED chip sector and completing its supply chain layout from upstream chips to downstream Mini LED display applications [5] Group 2 - The revised shipment forecast for laptops in 2025 is 182.9 million units, with a year-over-year growth of 3.6%, while the previous forecast for 2026 was 178.5 million units with a year-over-year decline of 2.4% [5] - The trend of vertical integration in the Micro/Mini LED industry is deepening, as multiple brands and panel manufacturers have pursued similar acquisitions or investments since 2018 [5]

以下文章来源于TrendForce集邦 ，作者TrendForce TrendForce集邦 . TrendForce集邦咨询是一家全球高科技产业研究机构，研究领域横跨存储器、AI服务器、集成电路与半 导体、晶圆代工、显示面板、LED、AR/VR、新能源（含太阳能光伏、储能和电池）、AI机器人及汽车 科技等，提供前瞻性行业研究报告、产业分析 根据TrendForce集邦咨询最新调查，在整体经济复苏力道有限、消费行为趋于保守的背景下，快 速上升的存储器价格正持续侵蚀笔电品牌的获利及定价弹性。因此，TrendForce集邦咨询再度下 调2026年全球笔电出货预估至年减5.4%，降至近1.73亿台，以反映品牌面对成本压力扩大，对 库存、促销与产品配置采取的保守态度。 倘若2026年第二季存储器价格涨幅未合理收敛，而品牌在无法顺利转嫁成本下，恐将面临低阶、 消费型笔电需求进一步走弱，不排除2026年全年出货将朝悲观情境(bear case)发展，下探至年减 10.1%。 TrendForce集邦咨询表示，笔电市场高度依赖供应链关系、产品组合、渠道策略与企业客户需 求，品牌商若与主要存储器原厂维持长期、稳定的合作，且商 ...

倘若2026年第二季存储器价格涨幅未合理收敛，而品牌在无法顺利转嫁成本下，恐将面临低阶、消费型笔电需求进一步走弱，不排除2026年全年出货将朝 悲观情境(bear case)发展，下探至年减10.1%。 TrendForce集邦咨询表示，笔电市场高度依赖供应链关系、产品组合、渠道策略与企业客户需求，品牌商若与主要存储器原厂维持长期、稳定的合作，且 商务与中高阶产品占比较高，并具备成熟的渠道与价格管理能力，对本轮存储器涨价将有较佳的抵御能力，能维持出货稳定性。 智通财经APP获悉，根据TrendForce集邦咨询最新调查，在整体经济复苏力道有限、消费行为趋于保守的背景下，快速上升的存储器价格正持续侵蚀笔电 品牌的获利及定价弹性。因此，TrendForce集邦咨询再度下调2026年全球笔电出货预估至年减5.4%，降至近1.73亿台，以反映品牌面对成本压力扩大，对 库存、促销与产品配置采取的保守态度。 | | 2025 | 2026 | | | --- | --- | --- | --- | | | | Revised | Previous | | Shipment | 182.9 | 172.9 | 178.5 ...

Dec. 30, 2025 以Ap p l e为例，尽管面临存储器成本上升压力，其高度整合的供应链体系与品牌定价能力，仍能 提供较大的产品线调整弹性。此外，由于Ap p l e有长期且稳定的采购规模、明确产品节奏以及高 度可预期的需求规划，支持其在存储器原厂端取得较优先的合作顺序。 根据Tr e n dFo r c e集邦咨询最新调查，在整体经济复苏力道有限、消费行为趋于保守的背景下， 快速上升的存储器价格正持续侵蚀笔电品牌的获利及定价弹性。因此， Tr endFo r c e 集 邦 咨 询 再度下调2 0 2 6年全球笔电出货预估至年减5 . 4%，降至近1 . 7 3亿台，以反映品牌面对成本压力扩 大，对库存、促销与产品配置采取的保守态度 。 | 2025-2026年全球笔电出货预估 (unit: M pcs) | | --- | | | 2025 | 2026 | | | --- | --- | --- | --- | | | | Revised | Previous | | Shipment | 182.9 | 172.9 | 178.5 | | YOY | 3.6% | -5.4% | -2.4% ...

Group 1: Domestic Smartphone Market Performance - In November 2025, the domestic smartphone shipment volume reached 30.16 million units, a year-on-year increase of 1.9%, with 5G smartphones accounting for 27.61 million units, up 1.1%, representing 91.6% of total shipments [1] - From January to November 2025, the total smartphone shipment volume was 282 million units, a 0.9% increase year-on-year, with 5G smartphones making up 244 million units, a 1.3% increase, constituting 86.6% of total shipments [1] - In November 2025, the number of new smartphone models launched was 31, a decrease of 27.9% year-on-year, with 5G models totaling 24, an increase of 26.3%, representing 77.4% of new models [1] Group 2: Domestic Brand Performance - In November 2025, domestic brand smartphone shipments were 23.23 million units, a year-on-year decline of 12.6%, accounting for 77.7% of total shipments [1] - From January to November 2025, domestic brand smartphone shipments totaled 241 million units, a 1.2% increase year-on-year, representing 85.4% of total shipments [2] - The number of new models from domestic brands launched from January to November 2025 was 451, a year-on-year increase of 15.6%, constituting 95.1% of total new models [2] Group 3: Smart Device Market Trends - In November 2025, the smart smartphone shipment volume was 28.75 million units, a year-on-year increase of 2.0%, making up 95.3% of total shipments [2] - From January to November 2025, the smart smartphone shipment volume was 262 million units, a slight decline of 0.1% year-on-year, representing 92.8% of total shipments [2] - The number of new smart smartphone models launched from January to November 2025 was 309, a year-on-year increase of 6.2%, accounting for 65.2% of total new models [2] Group 4: Future Market Outlook - Multiple institutions predict a decline in smartphone and laptop shipments in 2026 due to rising storage prices, with a forecasted year-on-year decrease of 2% for smartphones and 2.4% for laptops [3] - The increase in DRAM and NAND Flash prices is expected to significantly raise the overall cost of smartphones and laptops, leading manufacturers to raise prices, particularly affecting low-end models [3] - If supply-demand imbalances worsen, shipment volumes may face further pressure, with the laptop market experiencing dual pressures from rising costs and weak demand [3]

Core Insights - The latest survey by TrendForce indicates that significant price increases for memory chips are expected in Q1 2026, leading to cost challenges for global end products [1] - As a result, smartphone and laptop industries are likely to raise product prices and lower specifications, with sales outlooks being further downgraded [1] - Resource advantages are expected to concentrate among a few leading brands [1]

Core Viewpoint - The ongoing increase in storage prices is impacting not only smartphone manufacturers but also PC and laptop manufacturers, leading to planned price hikes of up to 20% by companies like Lenovo, Dell, and HP [1] Group 1: Price Increases - Lenovo has already begun notifying customers about upcoming price adjustments [1] - Dell and HP are also planning to raise prices, with the maximum increase expected to reach 20% [1] - All server and computer quotes will expire on January 1, 2026, after which new pricing will significantly increase [1]

以下文章来源于科创板日报 ，作者科创板日报 科创板日报 . 专注科创板和科技创新，上海报业集团主管主办，界面财联社出品。 惠普CEO Enrique Lores则警告称， 2026年下半年"可能尤其艰难"，必要时将上调价格。 他指出， 内存芯片约占一台PC成本的15%– 18%。 据悉，由于内存价格上涨，PC 厂商正面临不断上升的利润压力。 联想、惠普、戴尔、三星电子与LG电子等正重新评估2026年产品规划， 包括AI PC与平板电脑。 值得一提的是，几天前美光宣布终止运营消费品牌Crucial，专注于满足来自于数据中心相关客户需求，因为这类客户的利润率明显更高。 TrendForce最新报告指出，内存价格上涨已显著推升消费电子产品的物料成本（BOM），迫使品牌提高零售价格，从而抑制市场需求。受 此影响， TrendForce将2026年笔电出货量预测从原先同比增长1.7%下调至同比下降2.4%。 "存储芯片短缺已经从组件级问题升级为宏观经济风险。" 科技咨询公司Greyhound Research CEO Sanchit Vir Gogia警告，AI基础设施 建设"正在与无法满足其实际需求的供应链发生碰撞" ...

Group 1 - The company, Huqin Technology, expects to exceed 15 million laptop shipments in 2024, indicating a strong growth trajectory [2] - For the first three quarters of 2025, the company's laptop business is projected to achieve over 30% revenue growth [2] - The total revenue for the company in 2025 is anticipated to surpass 30 billion yuan [2]

Core Insights - The report from TrendForce indicates that the surge in memory prices has significantly increased the costs of consumer electronics, leading to higher retail prices and impacting the consumer market [1] - TrendForce has revised down its forecast for global smartphone and laptop shipments for 2026, and has also lowered the forecast for game console shipments from a previously estimated decline of 3.5% to a decline of 4.4% [1] - Game consoles are particularly affected by rising memory prices, as their profitability primarily comes from software and membership services, and they have historically relied on strategies of gradually lowering product prices or offering promotions to boost sales [1]