It's been a surprisingly good year for foldable phone cameras. Exhibit A, the Samsung Galaxy ZFold 7, and exhibit B, the Google Pixel 10 Pro Fold. It's also been a good year for phones with ridiculously long names.But how do these cameras compare. I snapped a bunch of photos on each phone, and here's how they stack up. This is All Things Mobile.Let's kick things off with some quick camera specs just to refresh our memories. The Galaxy ZFold 7 has a 200 megapixel wide-angle, 12 megapixel ultrawide, and 10 me ...

「平平无奇」的双十一结束了，不知道大家有没有趁着双十一的优惠，买到自己心仪的数码产品呢？小雷自己今年并没有在双十一期间买手机：一方面，小 雷的旧手机在新 iPhone 推出前一个月就摔坏了，早就换了新手机。另一方面，小雷发现了一个优惠力度比双十一还要大的购机渠道——官翻机。 图片来源：雷科技 以小雷自用的三星手机为例，在淘宝，我们能轻松找到三星官翻机的授权经销商：不久前才发售、用了「升杯」优惠还要 13999 元的 Galaxy Z Fold 7 （12+512GB），在官翻授权企业店只要 11500 元；S25 Ultra 比起全新机更是「直降 2000 元」。 除了小雷喜欢的三星，苹果、华为、OPPO 等品牌在官网或电商平台上也有自己的官翻店铺，甚至连罗技、雷蛇等电脑外设品牌，在电商平台上也能找到对 应的官翻店。 图片来源：Apple 那么，这种由品牌自己背书的「翻新机」，真的靠得住吗？以下是雷科技的看法。 一般来说，这些旧手机被品牌回收后，会按新品的标准重新进行质检，损坏的零件会更换为原厂配件，再经过和新手机相同的出厂测试，最终重新包装，从 而确保到消费者手里的每一台官翻机至少要达到「新机级别」的体验。 ...

Core Insights - Global smartphone shipments increased by 2.6% year-on-year in Q3, driven by strong demand for high-end models and AI-enabled devices [1][2] Industry Analysis - Despite economic uncertainties and tariff fluctuations, smartphone demand remains resilient, supported by high-end features, attractive pricing, and trade-in promotions [2] - IDC's Senior Research Director, Nabila Popal, highlighted the impressive growth of the smartphone industry amid ongoing economic challenges [3] - IDC's Vice President, Francisco Jeronimo, noted strong demand for Apple's new iPhone 17 series, with pre-sales exceeding the previous generation, and Samsung's Galaxy Z Fold 7 and Galaxy Z Flip 7 outperforming all previous foldable models [3] Data Overview - In Q3, global smartphone shipments reached 322.7 million units, with Samsung leading at 61.4 million units and Apple following closely with 58.6 million units, marking a nearly 3% year-on-year increase for Apple [3] Future Outlook - IDC maintains an optimistic outlook for the remainder of 2025, anticipating strong smartphone sales growth driven by aggressive promotional activities, ongoing AI feature expansion, and continuous device innovation [4]

Group 1 - Samsung's first tri-fold smartphone, Galaxy Z TriFold, is nearing completion and is expected to be unveiled by the end of October [2][7] - The design of the Galaxy Z TriFold features a "G" shaped fold, differing from Huawei's "Z" shaped fold in the Mate XT series [5] - The smartphone will have three independent batteries, with the largest battery located in the middle section of the device [4] Group 2 - The APEC summit, scheduled for October 31 to November 1, will showcase Samsung's tri-fold smartphone, with a formal launch anticipated in early November [7]

Core Viewpoint - Jefferies has downgraded Apple's investment rating from "Hold" to "Underperform" due to overly optimistic expectations regarding iPhone upgrades and the future of foldable phones [1][3] Group 1: Investment Rating and Price Target - Jefferies adjusted Apple's target price from $205.82 to $205.16 [1] - The downgrade reflects concerns about the sustainability of upgrade cycles driven primarily by pricing rather than attractive features [3] Group 2: Market Expectations and Consumer Behavior - Analyst Edison Lee noted that the market has already priced in strong demand for the iPhone 17, with optimism surrounding the iPhone 18 Fold and subsequent upgrade cycles [3] - The iPhone 17 Pro Max models are currently seeing a premium of 5% to 15% in the second-hand market, while the iPhone 17 Air is the least popular model [3] Group 3: Foldable Phone Market Dynamics - In the Chinese market, foldable phones are experiencing price reductions, with some 256GB versions offering a subsidy of 500 RMB to stimulate demand [3] - The target market for foldable phones priced around $2000 may be limited, as exemplified by Samsung's Galaxy Z Fold 7, which features a nearly crease-free screen and a thickness of approximately 4.2 mm, compared to the iPhone 17 Air's 5.5 mm thickness [3] Group 4: Future Monitoring - Jefferies recommends that investors closely monitor Apple's device sales, profit margin structure, and changes in user upgrade behavior over the next few quarters [3]

Core Viewpoint - Samsung Electronics has decided to mass-produce over 50,000 units of a new "dual-fold" smartphone, marking its entry into the dual-fold smartphone market with a cautious approach due to the novelty of the product and potential limited early demand [2][4][5]. Summary by Sections Product Details - The new smartphone features an inward dual-fold design, with a screen size of 9.96 inches when unfolded and 6.49 inches when folded. The product is expected to be unveiled in October and officially launched in November [2][4]. Production Strategy - The production volume of 50,000 units is considered low compared to the 500,000 units planned for the Galaxy Fold in 2019. This limited production is intended to test the market for new form-factor smartphones [4][5]. Market Considerations - Analysts suggest that Samsung's cautious production strategy is influenced by the need to avoid competition with the recently launched Galaxy Z Fold 7, which has shown strong sales performance. The limited release aims to prevent cannibalization of existing product demand [5].

Core Viewpoint - Samsung has launched an advertisement mocking the iPhone, highlighting the features of the Galaxy Z Fold 7 while criticizing the iPhone's competitiveness [1][2]. Group 1: Advertisement Features - The new advertisement emphasizes the large internal screen of the Galaxy Z Fold 7, allowing users to play two videos side by side, a feature not available on the iPhone [2]. - The ad depicts a scenario where an individual struggles to prop up their iPhone 16 Pro Max to watch a video, only to have it knocked over by a cat, contrasting with the satisfied user of the Galaxy Z Fold 7 [2]. Group 2: Competitive Positioning - Samsung's advertisement also highlights the perceived lack of strong AI capabilities in the iPhone, claiming that Samsung's Galaxy AI is objectively superior to Apple Intelligence [2]. - The timing of the advertisement is strategic, as it coincides with Apple's upcoming launch of the new iPhone series on September 9, suggesting Samsung's intent to remind consumers of the advantages of their devices [2].

Core Viewpoint - The competition between Apple and Samsung in the U.S. smartphone market has intensified, with Samsung gaining market share due to innovative screen designs, while Apple faces its first significant decline in market dominance in over a decade [1][2]. Market Share and Sales Data - In Q2, Samsung's market share in the U.S. increased from 23% to 31%, while Apple's share decreased from 56% to 49%, marking a notable shift in the competitive landscape [1][2]. - Apple's stock has dropped 7.5% this year, while Samsung's stock has risen approximately 35% [1]. Product Innovations - Samsung launched two revolutionary foldable phones, the Z Fold 7 and Z Flip, which have generated significant consumer interest and discussion on social media [2][4]. - The Z Fold 7's pre-sale volume increased by 25% compared to its predecessor, with sales growth nearing 50% [4]. Pricing Strategy - Samsung's Galaxy and Z series phones range from $650 to $2400, allowing it to target various consumer price segments effectively [2]. - Apple's iPhone pricing ranges from $829 to $1599, with the most expensive model, the iPhone 16 Pro Max, starting at $1199 [3]. Future Developments - Apple is expected to introduce a new ultra-thin iPhone and potentially a foldable iPhone in the coming years to compete with Samsung's offerings [3][5]. - Analysts predict that Apple's foldable phone could start at $1999, aligning with Samsung's pricing strategy for its foldable devices [3]. Technological Advancements - The maturity of foldable screen technology has alleviated previous consumer concerns, enhancing Samsung's brand image and market position [4]. - The rise of AI applications is influencing the smartphone market, with Samsung integrating advanced AI features into its devices, potentially outpacing Apple's current offerings [5].

Group 1 - Apple reported its strongest quarterly revenue growth since December 2021, with total revenue reaching $94.04 billion, a 10% year-over-year increase, surpassing market expectations of $89.53 billion [2] - Despite the strong earnings, Apple's stock has declined approximately 17% this year, making it one of the worst performers among major tech companies [2] - Analysts still maintain a "moderate buy" rating on Apple stock, which is trading at about 28 times expected earnings, higher than peers like Alphabet and Meta Platforms Inc. [2] Group 2 - Concerns about Apple's position in the AI sector are growing, especially as key AI talent has left for competitors like Meta Platforms Inc., which is investing heavily in AI infrastructure [3] - Microsoft has announced a clear AI development strategy, planning to invest $80 billion by 2025 for AI training and deployment, showcasing its strong position in the AI and cloud computing markets [3] - Alphabet and Amazon have also reported strong demand for their AI services, indicating a competitive landscape for Apple in the AI domain [4] Group 3 - Apple's AI capabilities are perceived to be lagging behind competitors, with its Siri assistant seen as basic compared to the advanced AI functionalities offered by rivals [5] - Apple's closed system limits its AI capabilities, relying on a device model with 3 billion parameters, while competitors utilize cloud systems with over a trillion parameters [5] - The company has not articulated a clear AI strategy this year, unlike its competitors who have defined their directions in the AI space [5] Group 4 - Apple is expected to launch its first foldable iPhone in 2026, which could generate up to $65 billion in sales, particularly appealing in the Chinese market [6] - The foldable phone market is already competitive, with Samsung reporting a 50% increase in sales for its latest foldable model, indicating that Apple may be entering a crowded space [7] - Despite challenges, Apple remains a high-quality tech giant with stable cash flow and a strong ecosystem, holding $133 billion in cash as of June [8]

Core Viewpoint - SK Hynix has surpassed Samsung Electronics to become the world's largest memory manufacturer in Q2, driven by AI demand, while Samsung's memory revenue has declined significantly [3][6]. Group 1: Market Position and Performance - SK Hynix's memory revenue reached 21.8 trillion KRW (approximately 15.2 billion USD), while Samsung's memory revenue fell to 21.2 trillion KRW [3]. - SK Hynix holds a 62% share of the high-bandwidth memory (HBM) market, while Samsung only has 17% [3]. - Samsung's semiconductor division reported a 94% drop in operating profit year-on-year, with a net profit decrease of 48.01% [6]. Group 2: Product and Business Strategy - Samsung plans to increase sales of server memory chips and is awaiting certification for its HBM3E memory, which is expected to secure more orders from NVIDIA [7][9]. - The company aims to enhance its next-generation 2nm GAA process yield to attract large clients, including Tesla, with a recently signed 23 trillion KRW contract [7][12]. - Samsung is focusing on high-value businesses like AI and expanding its advanced HBM shipments, with expectations of DRAM and NAND price increases starting in the second half of the year [9][10]. Group 3: Competitive Landscape - Samsung is reducing HBM3E prices to attract major clients, as it has not yet secured orders from NVIDIA, which is crucial for its market position [11]. - The company has completed reliability assessments for its first-generation 2nm process and is preparing for mass production, which may enhance its competitive edge in the semiconductor market [11].