来源：Counterpoint Research 《全球智能手表出货量预测，2025 年 Q3》 在进一步谈及苹果表现时，Jain 补充道："苹果最新一代智能手表产品在上市季度实现了同比 12% 的出货量增长，预计其 2025 年全年出货量也将同比增 长 12%。这一反弹主要得益于备受期待的高性价比 Watch SE 3 以及超高端 Watch Ultra 3 的推出，这两款产品显著拓宽了苹果在不同价格区间的覆盖范 围。同时，5G 支持、卫星通信，以及高血压提醒等全新健康功能的加入，帮助苹果在连续七个季度同比下滑后明显回暖。" 副总监 David Naranjo 在展望市场前景时指出："2025 年的智能手表行业尤为突出，功能驱动型创新浪潮从根本上提升了设备性能。AI 集成、5G 支持、卫 星通信以及 MicroLED 显示技术成为最具代表性的升级亮点。如今即便是价格较低的型号也开始提供 AI 驱动的使用体验和升级版健康传感器，以重新吸 引此前流失的基础款智能手表用户。这种对功能升级和用户价值的重新聚焦正形成正向反馈，并有望在 2025 年推动市场增长。" 根据 Counterpoint Research 发 ...

在经历 2024 年的大幅下滑后，全球智能手表出货量预计将在华为和苹果的带动下于 2025 年同比 增长 7%。 苹果 2025 年 Q3 出货量同比增长 12%，结束了此前连续七个季度下滑的局面。 2024–2025 年期间，中国市场在华为、小米和小天才等本土品牌加速普及之下持续占据全球最大 出货份额。 与此同时，全球头部品牌正加速将 AI 驱动的健康分析与健康指导功能整合至产品体系中。卫星 通信、5G RedCap 以及 MicroLED 显示技术等关键新特性预计将于 2025 年首次商用落地。 来源：Counterpoint Research 《全球智能手表出货量预测，2025 年 Q3》 根据 Counterpoint Research 发布的《全球智能手表出货量预测，2025 年 Q3》 ，全球智能手表出货 量预计将在 2025 年年底同比增长 7%。在 2024 年首次出现下滑后重回增长轨道。2025 年，全球智 能手表市场格局出现显著变化，主要体现在新一代硬件与软件功能的推出、消费者对中高端智能手 表偏好提升，以及行业对健康相关功能的日益关注。本轮复苏由华为领衔，并得到苹果新品阵容的 有力支撑。 ...

数据来源：Counterpoint Research 智通财经记者 | 宋佳楠 12月24日，智通财经获悉，数据咨询机构Counterpoint Research发布的最新报告显示，在经历2024年的大幅下滑后，全球智能手表出货量预计将在华为和苹 果的带动下于2025年同比增长7%。同时，品牌竞争格局出现显著重构——小米成功反超三星跻身第三位，苹果也结束了连续七个季度下滑的局面。 2025年，全球智能手表市场的变化，主要体现在新一代硬件与软件功能的推出、消费者对中高端智能手表偏好提升，以及行业对健康相关功能的日益关注。 从核心品牌数据变化来看，以23%的市场份额排在首位的苹果终于扭转颓势，三季度出货量实现12%的增长。 Counterpoint高级研究分析师Anshika Jain表示，"预计苹果新一代智能手表2025年全年出货量也将同比增长12%。这一反弹主要得益于备受期待的高性价比 Watch SE 3以及超高端Watch Ultra 3的推出，这两款产品显著拓宽了苹果在不同价格区间的覆盖范围。同时，5G支持、卫星通信，以及高血压提醒等全新健 康功能的加入，帮助苹果在连续七个季度同比下滑后明显回暖。" 华 ...

Core Insights - The core focus of Apple's annual fall event was on design as a foundational element of the company, with significant updates to its product line, including the introduction of the iPhone 17 series and the new iPhone Air model [1][7] Product Launches - Apple launched four new models: iPhone 17, iPhone Air, iPhone 17 Pro, and iPhone 17 Pro Max, with prices starting at 5999 yuan and going up to 17999 yuan [1] - The iPhone Air, touted as the thinnest iPhone ever at 5.6 mm, replaces the Plus version and is seen as a strategic new category for Apple [2][3] - The iPhone 17 standard version features an A19 chip and a dual-camera system, while the Pro models received significant upgrades in imaging capabilities [3] Strategic Positioning - The iPhone Air serves three key functions: a testing ground for ultra-thin designs, a high-end complement to the Pro series, and a means to optimize profits by capturing both developed and emerging market demands [3] - Apple's approach to product line management emphasizes gradual evolution rather than aggressive diversification, maintaining a strong brand image and market position [8] Wearable Technology Updates - Apple also updated its wearable technology, including the Apple Watch Ultra 3, Series 11, and SE 3, aiming to regain growth in a segment that has seen a revenue decline over the past seven quarters [4] - The Apple Watch business has surpassed $100 billion in cumulative revenue, but faces increasing competition, particularly from Huawei [4] AI Integration Challenges - Despite the lack of a strong emphasis on AI features during the event, analysts noted that Apple is perceived as a latecomer in the AI space, which could impact user upgrade decisions [5][6] - Apple's market share in AI-capable smartphones in China is approximately 40%, but the absence of proprietary AI features may drive users to third-party applications [5] Market Dynamics - The global smartphone market is increasingly competitive, with high-end market growth driven by various manufacturers, including Huawei and Xiaomi, which are gaining market share in China [10][12] - Apple's high-end market share remains strong at 62%, but it has seen a slight decline due to faster growth from competitors [10][12] Future Outlook - Analysts predict that Apple will introduce a foldable iPhone by 2026, with expected shipments of 8 to 10 million units in the first year [7] - The company is strategically waiting for the market to mature before entering the foldable segment, which aligns with its historical approach to product launches [7][9]

记者丨倪雨晴 编辑丨包芳鸣 视频丨柳润瑛 9月10日凌晨，苹果一年一度的秋季发布会"超燃"开场，这也被视为消费电子界的"春晚"。 苹果CEO库克一开场就点明了今年发布会的核心："设计一直是苹果公司和业务的基石。" 与往年市场热议"创新乏力"不同，此次苹果产品线进行了大更新，共发布了iPhone 17、iPhone Air、 iPhone 17 Pro和 iPhone 17 Pro Max四款机型。价格方面，新机5999元起，最高价为17999元。 其中，全新的"轻薄"产品线iPhone Air，取代了此前的Plus版本，也被称为"苹果史上最薄iPhone"，不少 人直呼"果味"回来了。从命名就能看出Air的重要性，不带数字"17"，代表它是新品类的初代。 最薄iPhone登场，AI还需等待 发布会最受瞩目的依旧是iPhone 17系列，其中取代Plus的iPhone Air成为全场焦点，被认为是本代的"实 验性"产品。 这款机型厚度仅5.6毫米，是迄今为止最轻薄的iPhone。为了实现极致轻薄，苹果在机械结构上进行创 新，采用了单摄设计、全面eSIM化，目前国内仅联通支持Air的eSIM。 与此同时，Air依 ...

Core Viewpoint - Apple's annual fall event showcased significant updates across its product line, emphasizing design as a cornerstone of its business strategy, with the introduction of the iPhone 17 series and the new iPhone Air model, which is touted as the thinnest iPhone ever [1][10]. Product Launch Highlights - The iPhone 17 series includes four models: iPhone 17, iPhone Air, iPhone 17 Pro, and iPhone 17 Pro Max, with prices starting at 5999 yuan and going up to 17999 yuan [1]. - The iPhone Air, at only 5.6 mm thick, replaces the Plus version and is positioned as a high-end product, showcasing Apple's design prowess while maintaining flagship performance with the latest A19 Pro chip and other advanced components [5][6]. Strategic Implications of iPhone Air - The iPhone Air serves as a strategic experiment for Apple, allowing it to test new lightweight components and energy management technologies, potentially paving the way for future foldable devices [3][6]. - It is positioned as a complement to the Pro series, enhancing Apple's high-end brand image while providing a differentiated choice for consumers focused on design [6]. - The introduction of the Air model is seen as a move to balance sales and profitability, targeting both developed and emerging markets without cannibalizing existing products [6]. Upgrades in Other Product Lines - Apple also updated its wearable devices, including the Apple Watch Ultra 3 and Apple Watch Series 11, aiming to regain growth in a segment that has seen a decline in revenue over the past seven quarters [7]. - The AirPods Pro 3 received enhancements in noise cancellation and health monitoring features, although the translation function requires an AI-enabled iPhone [7]. AI Integration Challenges - Despite the successful product launches, Apple has been criticized for its slow integration of AI features compared to competitors, which may impact user upgrade decisions and long-term market positioning [8]. - In China, Apple holds about 40% of the AI-enabled smartphone market share but lacks proprietary AI functionalities, leading users to rely on third-party applications [8]. Market Position and Future Outlook - Apple's product line expansion reflects a steady approach to maintaining its dominant position in the high-end smartphone market, with a focus on incremental improvements rather than radical changes [10][11]. - The company is expected to introduce foldable devices in the future, with projections estimating shipments of 8 to 10 million units by 2026 and growth to 25 million units by 2027 [10]. - In the competitive landscape, Apple remains the largest brand in the high-end smartphone market, with a 62% market share, although it faces increasing pressure from competitors like Huawei and Xiaomi, particularly in China [15][16].