2025-09-01 02:01Summary of Key Points from the Conference Call Industry Overview - The conference focuses on the AI glasses industry, specifically the application of electrochromic (EC) technology in smart glasses, highlighting its advantages over photochromic technology in terms of control and intelligence [1][4][5]. Core Insights and Arguments - Electrochromic Technology: EC technology is favored for AR glasses due to its low power consumption, continuous adjustment, material stability, and long lifespan, despite its higher cost [1][5]. - Market Adoption: Xiaomi's AI glasses are expected to ship 400,000 units in 2025, with 30% featuring the electrochromic function. The shipment is projected to double to 1 million units in 2026, maintaining the same percentage for the electrochromic version [9][8]. - Cost Structure: The cost of the EC film is currently around $50, with expectations to drop to $30-$35 as production scales up and additional suppliers are introduced [2][24]. - Meta's Product Launch: Meta plans to release the "Super Nova" AR glasses with electrochromic functionality in September 2025, targeting a shipment of 200,000 units in Q4 2025 [10][13]. The overall shipment is expected to double to 10 million units in 2026 [11]. - Supplier Strategy: Both Xiaomi and Meta are exploring partnerships with non-listed companies for their electrochromic solutions, which may offer advantages in early customer engagement and specialized technology [25]. Additional Important Content - Technical Differences: The conference discusses the differences between electrochromic and photochromic technologies, emphasizing that electrochromic technology allows for active control of color changes, making it more suitable for smart glasses [3][4]. - Future Trends: The electrochromic technology is anticipated to become a trend in higher-end glasses priced around $300-$400, as these products can absorb the premium associated with the technology [23]. - Competitive Landscape: The AR glasses market is expected to remain stable in the next two years, with limited suppliers currently offering products with electrochromic features [28]. - Huawei's Plans: Huawei is set to release a smart glasses model in August 2026, which will utilize a similar technology route as competitors but with a cost reduction of 10%-15% due to local suppliers [30][31]. This summary encapsulates the key points discussed in the conference call, providing insights into the current state and future outlook of the AI glasses industry, particularly focusing on electrochromic technology.