研究公司CCS Insight今日发布报告称，到2023年底，将有13亿部iPhone在使用中，其中超过50%是二手 机。 因此，越来越多的消费者会说，"我可以花1000英镑买一部全新的iPhone 15，但也可以花四、五百英镑 买一部质量很好的翻新iPhone 13。" Gebbie称，人们购买二手iPhone的动机并不纯粹是金钱方面的。同时，消费者也意识到，这对环境也有 好处。 CCS Insight数据显示，当前二手智能手机市场几乎完全由苹果主导。但Gebbie同时指出："这种情况将 影响到苹果的营收。在将来的某个时间点，苹果可能会更认真地考虑该问题。" 在过去的几年里，CCS Insight一直在跟踪二手手机市场。该公司今日在报告中称，iPhone显然是重复使 用最多的智能手机。CCS Insight分析师Leo Gebbie称："过去几年中，人们对二手iPhone的兴趣大增。" Leo Gebbie认为，其中最主要的原因之一是缺乏重大升级，两代iPhone手机之间的差别不是很大。 Gebbie说："iPhone 15刚刚问世，比iPhone 14好，后者又比iPhone 13好，但都是增量式的提升， ...

Group 1 - Sun Dongxu has left Dongfang Zhenxuan, confirmed by Yu Minhong, citing personal reasons for his departure [4] - Sun Dongxu sold 1.93 million shares over two days, cashing out 2 billion HKD [8] - Yu Minhong expressed hope for Sun Dongxu to return to a management position in the future [4] Group 2 - Apple encourages iPhone 13 and 14 users to upgrade to the new iPhone 17, highlighting the advantages of the new model [5] - The iPhone Air 2 may feature an additional camera lens, while Apple has avoided discussing sales issues related to the Air series [8] Group 3 - CCTV exposed a case of counterfeit live streaming involving actress Wen Zhengrong, where her likeness was used in multiple streams [6]

Core Insights - The second-hand smartphone market in mature regions like Europe, the US, and Japan is expected to show flat performance in the first half of 2025, with an average year-on-year growth of about 1% [1] - In contrast, emerging markets such as Africa, India, Southeast Asia, China, and Latin America are projected to remain active, with an average year-on-year growth of approximately 4%, significantly higher than the global average [1] Group 1: Africa Market Insights - The African second-hand smartphone market is anticipated to grow by 6% year-on-year in the first half of 2025, making it the fastest-growing region globally [5] - Factors driving growth include the increasing number of authorized retailers absorbing sales from informal channels and government-led initiatives like "Bridge by Digital Africa" that support local refurbishment ecosystems [5] - The popularity of imported second-hand iPhones is attributed to economic pressures and consumer perceptions of reliability and longevity compared to local new devices [5] Group 2: India Market Insights - The Indian second-hand smartphone market is expected to grow by 5% year-on-year in the first half of 2025, led by Apple [6] - Authorized retailers are accelerating online and offline recycling programs, positioning refurbished high-end models as reliable and cost-effective alternatives [6] - The market demand is shifting towards newer models due to retailer-driven trade-in programs and extended warranty services [6] Group 3: Southeast Asia Market Insights - The Southeast Asian second-hand smartphone market is projected to grow by 5% year-on-year, supported by a large informal channel system and stable inflow of second-hand devices and components from China [9] - C2C transactions driven by online platforms are becoming a significant growth engine for the second-hand market, fueled by improved consumer trust and supply chain enhancements [9] - Apple is leading the market with a 15% year-on-year growth, primarily due to the popularity of iPhone 12 and 13 models [10] Group 4: Mature Markets Insights - Mature markets like the US, Europe, and Japan are experiencing stable performance, with supply constraints and declining exports to emerging markets affecting sales [11] - In the US, market sentiment is volatile, with retailers and OEMs stockpiling components to mitigate potential policy changes [11] - In Japan, the recognition of officially certified second-hand smartphones is increasing, supported by government initiatives promoting transparent pricing [11]

Core Viewpoint - The market's reaction to Apple's recent product rollout has been negative, with shares falling over 5% post-event, but there are indicators suggesting a potential rise in sales due to a significant number of users on older iPhone models [1][3][12]. Group 1: Product Innovation and Market Position - Analysts have criticized Apple for a lack of significant innovation, noting that recent product launches have only provided incremental upgrades [3][4]. - Apple's position in the AI sector is perceived as lagging behind competitors, which may impact near-term earnings unless a game-changing product is introduced [5][4]. - Despite the criticism, Apple has reported double-digit iPhone revenue growth in its latest quarter, indicating that the company may be successfully navigating the market without major new products [12]. Group 2: User Base and Upgrade Potential - A substantial portion of iPhone users are on older models, with over 400 million users utilizing devices that are at least four years old, creating a potential market for upgrades [9][10]. - Apple is actively encouraging upgrades from older models, particularly the iPhone 13, by highlighting the performance improvements of the new iPhone 17 [10]. - The customer retention rate for Apple's iPhone stands at 89%, significantly higher than competitors like Samsung, suggesting strong brand loyalty among users [11]. Group 3: Investment Opportunity - The current valuation of Apple at 37x price to free cash flow is lower than that of competitors like Alphabet and Microsoft, indicating a potential undervaluation [12]. - The combination of a large user base on older models and strong brand loyalty suggests that now may be an opportune time to invest in Apple shares before potential sales increases are realized [13].

General Information - The document was sent from an iPhone 13 [1]

Market Trends - The price of iPhones in Ethereum has generally decreased over the years, indicating a shift in the relative value of ETH compared to iPhones [1] - From iPhone 6s to iPhone 17, the price dropped significantly from 876.4 ETH to 0.18 ETH [1] Cryptocurrency & Technology Valuation - The price of iPhone 7 was 51.83 ETH, while the price of iPhone 8 dropped significantly to 2.65 ETH [1] - The price of iPhone X was 3.27 ETH, and the price of iPhone XS was 4.45 ETH [1] - The price of iPhone 13 was 0.25 ETH, the price of iPhone 14 was 0.51 ETH, the price of iPhone 15 was 0.50 ETH, the price of iPhone 16 was 0.34 ETH, and the price of iPhone 17 was 0.18 ETH [1]

Core Viewpoint - The upcoming iPhone 17 is expected to break the record for the longest sales period of a flagship iPhone model, surpassing the previous record held by the iPhone 4, which lasted approximately 15.7 months [4][5][8]. Summary by Sections iPhone 17 Release and Sales Record - iPhone 17 is anticipated to be released in September 2025 and is projected to be sold for about 18 months until the iPhone 18 is expected to launch in Spring 2027 [6][8]. - The current record for the longest sales duration is held by the iPhone 4, which was sold for approximately 15.7 months from June 2010 to October 2011 [5][6]. Historical Context of iPhone Sales Durations - No iPhone has surpassed the 15-month sales duration since the iPhone 4, with the closest being the iPhone 11 Pro, which lasted about 13.1 months [5][6]. - The iPhone 12's release was delayed due to the pandemic, resulting in a shorter sales cycle of only 11 months before the iPhone 13 was launched [9]. Comparison of Sales Durations - A table comparing various iPhone models shows their release dates, replacement models, and sales durations, highlighting the iPhone 17's potential to set a new record [6]. - The iPhone X had the shortest sales duration among flagship models, lasting only 10 months before being replaced by the iPhone XS [10]. Future Implications - The introduction of the Pro series and potential foldable iPhones may influence consumer behavior and sales strategies, but the iPhone 17 is still expected to achieve the longest sales period for a standard flagship model [8].

Core Insights - Global smartphone shipments are projected to decline to 288.7 million units in Q2 2025, a decrease of over 8 million units or 2.8% quarter-on-quarter, and a slight year-on-year decrease of 20,000 units or less than 0.1% [1][2] Company Performance - Samsung remains the market leader with shipments of 55.3 million units, holding a market share of 19.2%, despite a quarter-on-quarter decline of 8.6% and a year-on-year increase of 3.3% [2][4] - Apple ranks second with shipments of 44.8 million units and a market share of 15.5%, experiencing a significant quarter-on-quarter decline of 18.6% and a slight year-on-year decrease of 1.8% [2][4] - Xiaomi holds the third position with 42.4 million units shipped, reflecting a minor quarter-on-quarter increase of 1.3% and a year-on-year increase of 0.2% [2][4] - Vivo and Transsion are tied for fifth place, each with a market share of 9%, with Vivo showing a strong quarter-on-quarter growth of 15.1% [2][5] - Honor, Lenovo, and Huawei have shown strong growth, with Huawei achieving a year-on-year increase of 16.0%, reclaiming its position in the Chinese market [5] Market Trends - The smartphone market is facing significant macroeconomic challenges, with a decline in consumer demand post-pandemic and a shift in purchasing behavior [1][5] - Many manufacturers have had to lower production targets to avoid excess inventory, particularly in the U.S. market due to uncertainties surrounding tariffs [1][4] - The introduction of innovative hardware, such as silicon-carbon anode batteries and ultra-thin smartphone designs, is being leveraged to stimulate replacement demand among existing users [6]

Group 1 - The report analyzes the price and warranty differences between Apple's official refurbished products and Amazon Renewed Premium, indicating that Apple's official refurbished MacBooks and some iPads offer better value, while iPhones and high-end models are often cheaper on Amazon [1][3] - Apple's official refurbished products come with a unified replacement of the shell, battery, and glass, a one-year warranty, and the option to purchase AppleCare, while packaging is in a plain white box but internal accessories are identical to new products [3] - Price comparisons show that the iPhone 14 Pro (128 GB) is priced at $679 on Apple's official channel and $562 on Amazon, a 17% difference; the iPhone 13 (512 GB) is $699 on Apple and $430 on Amazon, a $269 difference; the iPad Air M1 (64 GB) is $379 on Apple and $349 on Amazon, a $30 difference; the iMac M1 (256 GB) is $1009 on Apple and $699 on Amazon, a $310 difference with Amazon offering double the storage [3] Group 2 - Amazon Renewed Premium offers a 365-day return policy and a 90% battery health guarantee, while Apple provides a 14-day return policy but more comprehensive warranty coverage [4] - For those seeking the latest models, Apple remains the only channel, whereas for lower prices or discontinued flagship models, Amazon has a clear advantage [4]

Core Viewpoint - The upcoming iPhone 17 Air is expected to have a battery capacity of only 2800mAh, which is lower than previous models and may lead to poor battery life, raising concerns among consumers [1][3][5] Group 1: Battery Capacity and Design - iPhone 17 Air's battery capacity of 2800mAh is less than the iPhone 7 Plus's 2900mAh and significantly lower than the iPhone 16 Plus's over 4000mAh [3] - The device's ultra-thin design at approximately 5.5mm is cited as the primary reason for the reduced battery size, which may negatively impact daily usage [3][4] - Reports suggest that only 60% to 70% of users may be able to use the iPhone 17 Air for a full day without charging, compared to 80% to 90% for other recent models [3][4] Group 2: Technical Specifications - iPhone 17 Air will feature a 120Hz display, A19 processor, 12GB of RAM, and a 48MP single rear camera, with iOS 26 pre-installed [3] - The device will not include a physical SIM card slot, opting for eSIM technology to save internal space [4] Group 3: Market Reception and Expectations - The announcement of a phone with a 2800mAh battery has led to disappointment in the market, with some questioning Apple's design logic [5] - There are concerns that heavy users may need to carry a power bank due to the low battery capacity, undermining the device's portability [5] - Analysts note that with advancements in battery technology, Apple could have increased the battery capacity by making the device slightly thicker [5]