Sentiment: the smart phone industry marginal innovation to accelerate the penetration
Last week Samsung released Note 7, a few highlights: 1) Samsung Note7 is starting the 5th generation Corning Gorilla Glass phone while Corning late last month, has just released the fifth generation of Gorilla Glass; 2) positive and negative hyperboloid but compared to S7 Edge hyperboloid screen, double-sided 3D glass radian more unified symmetry; 3) recognition, whether practical or not, as the technology has received numerous black spread from the point of view of consumer goods, as a marketing selling point has been success. Industrial chain with alternating down feeling more smartphone competition to the current stage, the marginal penetration actually accelerating innovation is low-end phones are constantly upgrading the configuration, use the experience from the flagship getting closer, the flagship unit prices must be in order to sell with a new selling point, lack of innovation in the marginal case, as long as the sign of trouble, even if it is a selling point will be the marketing layout, resulting in marginal innovation permeate the surface becomes steep. The current smart phone industry with the biggest difference is that the PC replacement cycle is short, in the case of the same hardware by Moore's Law, the smart phone than a PC like selling seafood. For international companies and domestic mobile phone manufacturers currently booming, the risks are increasing with income, a flagship model did not find cause to selling expense as unmarketable as seafood will be more painful, so when there is a new innovation out as long as the supply chain can weigh safe and reliable, they will tend to follow the adoption. The second half of the domestic mobile phone dual curved glass, dual cameras and a lot of cases AMOLED display, and Type-C, has gradually become fast charge flagship standard, and therefore investment opportunities in related areas still worth mining.
Portfolio: The semiconductor + car + smart new trends in consumer electronics
Semiconductor worst time has passed, the new changes bring new downstream opportunities overseas boom improved, the domestic semiconductor industry has also continued with the layout of the catalytic event. We are optimistic about the future development of the domestic semiconductor industry, concerned about the industry chain platform type and value investment opportunities. From the platform-based investment opportunities, the most upstream equipment and materials scarcity, maximum flexibility, it will be the next big focus of investment funds, we propose a focus Seven Star Electronics, Taiji Industry, South optoelectronics, Shanghai Xinyang, Clean Sky ; value of investment opportunities from the point of view, the mainland's largest packaging and testing areas of opportunity, proposes a focus on packaging and testing leading long power technology; in addition, networking, and other new MEMS applications bring new development opportunities, the proposed attention NAV technology, Datang Telecom , Neusoft carrier, China Microelectronics, Beijing Jun.
We continue to be optimistic intelligent vehicles as the 2016 investment opportunities throughout the year. In addition to key recommendation Deren Electronic and double-Lin shares, focusing on recommended underestimate the value of shares and Farah Xingyu electronics.
New trends in consumer electronics, we are optimistic about OLED luminescent material upstream sector trends identified, the driver IC, the investment value of plug-in touch and continue to recommend OLED luminous materials sector, Sinowealth and plug-film touch. Curved glass as OLED supporting extension can concern.
Focus on the subject
Semiconductor and localization: Changjiang Electronics Technology, Huatian Technology, NAV technology, electronic torch, Ai Pike.
Intelligent driving and new energy: Xingyu shares, Farah electronics, Deren Electronic, Yan Wanda, Shuanglin shares.
Consumer electronics trends: Sinowealth, Ho Chi electronics, Jiawei shares, Han's Laser, EPI precision.
LED and Transformation: Chau Ming Technology, Abby.
Increased competition risk; risk industry boom decline. (Source: GF Securities text / compile Xuxing Jun Wang Liang: China Electronic Commerce Research Center)