手机电子行业长期投资逻辑专题研究：生成式有望重塑智能手机

Summary of the Conference Call on Generative AI Reshaping Smartphones Industry Overview - The conference focuses on the smartphone industry and the impact of generative AI on its future development [1][4][30]. Key Points and Arguments 1. Market Trends and Developments - Major smartphone manufacturers are investing in AI capabilities, with Apple expected to integrate OpenAI or Google Gemini's AI features into iOS 18 [1][30]. - The smartphone market is projected to recover, with global shipments expected to grow by 4% in 2024 after a 4% decline in 2023 [30]. - Generative AI smartphones are anticipated to see significant growth, with shipments expected to exceed 100 million units in 2024, reaching a penetration rate of 40% by 2027 [30][31]. 2. Technological Advancements - The development of AI large models is set to transform smartphone functionalities, enabling the creation of new digital content such as videos, images, and text [1][30]. - The integration of high-performance AI chips from companies like Qualcomm and MediaTek supports the local operation of large models on smartphones [1][30][38]. - The introduction of 5.5G technology is expected to enhance network performance by tenfold, improving user experience and expanding application scenarios [1][30]. 3. Investment Opportunities - The shift towards generative AI in smartphones is expected to drive hardware upgrades, benefiting component suppliers in areas such as chips, storage, and sensors [2][30]. - Recommended investment targets include: - Chips: SMIC, Huatian Technology, Changdian Technology, Tongfu Microelectronics - Storage: Zhaoyi Innovation, Dongxin Co., Hengshuo Co., and others - Cooling: Zhongshi Technology, Carbon Element Technology, and others - Battery: Zhuhai Guanyu, XWANDA, and others [2]. 4. Competitive Landscape - Domestic and international manufacturers are developing their own AI models, with notable examples including Samsung's Gauss, Google's PaLM 2, and Apple's GPT [46][50]. - The competition is intensifying as companies release smartphones equipped with generative AI capabilities, with a focus on enhancing user interaction and system optimization [1][30][46]. Important but Overlooked Content - The report highlights the unique advantages of edge AI deployment, such as enhanced privacy and low latency, which are critical for user acceptance [34][37]. - The need for hardware optimization to support AI applications is emphasized, indicating a shift towards integrated hardware-software solutions in smartphones [33][38]. - The report also discusses the potential risks, including lower-than-expected demand in the smartphone market and slower-than-anticipated advancements in AI technology [3]. Conclusion - The generative AI trend is poised to reshape the smartphone industry, presenting both opportunities and challenges for manufacturers and investors alike. The integration of advanced AI capabilities is expected to drive significant changes in smartphone functionalities and market dynamics [1][30][31].