NEW POWER(300152)2025-02-20 17:54Summary of the Conference Call on the Folding Screen Industry Industry Overview - The folding screen industry is experiencing significant catalysts this year, particularly in the Android segment, with a focus on Huawei and Apple’s supply chains [1][2] - The report aims to explore the overall industry situation and identify potential beneficiaries within the supply chain [1] Key Insights - Market Share and Sales: Huawei has a substantial market share in the folding screen segment, with sales of 4.45 million units in 2023, indicating strong performance in both domestic and global markets [2] - Product Development: There is a noticeable differentiation in resource allocation and product launches among leading companies, with a focus on various folding designs (horizontal, vertical, and tri-fold) [3] - Market Dynamics: The folding screen market is heavily influenced by Huawei's product releases, while Apple’s anticipated entry into the folding screen market is generating significant interest [4][5] - Technological Advancements: The industry is seeing improvements in display technology and durability, particularly in relation to Apple’s high standards for display quality and scratch resistance [6] Financial Metrics and Market Potential - The market's value is expected to evolve based on the pricing and component choices made by Apple, with a notable decrease in prices across the board for new models [7] - The cost structure of OLED screens is a critical factor, with the folding screen segment experiencing higher costs due to the complexity of the technology [8] - The average price of components varies significantly, with the cost of screens ranging from several hundred to over a thousand dollars depending on the design [9][10] Competitive Landscape - Key players in the supply chain include BOE and Visionox, with a focus on meeting the demands of major brands like Huawei [8] - The industry is consolidating around a few reliable suppliers capable of mass production and maintaining quality, which is crucial for meeting the anticipated demand from Apple [11][12] - Companies that have successfully scaled production and maintained high yield rates are positioned to benefit from Apple's potential entry into the folding screen market [12] Future Outlook - There is optimism regarding Apple’s folding screen product launch, with expectations of significant sales volumes in the first generation [14] - The industry is closely monitoring advancements in screen technology and hinge design, which are critical for the success of folding devices [17] - Recommended companies for investment include those closely tied to Huawei and those with potential to benefit from Apple's supply chain, such as Dongmeng Co. and other specialized manufacturers [18][19] Conclusion - The folding screen industry is poised for growth, driven by innovation and competitive dynamics between major players like Huawei and Apple. The focus on technological advancements and supply chain efficiency will be key to capturing market opportunities in the coming years [18][19]