中信证券:小米(01810.HK)发5G新品旨积累量产经验 厂商面临洗牌压力
中信证券发报告表示,就小米集团(01810.HK)昨召开5G新品发布会,发布5G旗舰机小米9 Pro、5G环绕屏概念机MIX Alpha,该行认为小米在5G换机潮来临之前发布多款5G手机,展示研发实力,积累量产经验,并预计2020年5G的Soc(系统单晶片)等技术将趋於成熟,届时小米5G手机全年销量有望达到千万量级。
该行指,小米9 Pro采用了骁龙855Plus处理器、搭载X50基带,支持5G NSA模式,定价3,699至4,299元人民币,为目前所有5G手机中最低价。公司推出以旧换新,以小米8为例,补贴後最高可抵扣1,600元。
中信证券认为,5G换机潮将在明年来临,手机厂商面临新一轮洗牌压力,小米提前发布5G手机,具性价比优势,销量值得期待。该行指,今年手机市场承压,行业竞争加剧,小米手机收入占比或将继下降,物联网(IoT)收入占比提升,明年5G换机潮将推动手机厂商进一步洗牌,静待小米5G新品表现,长期看好公司在IoT领域的长期空间和成长性,公司在相关领域的业务布局,和股权投资可成未来亮点。
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