中信証券:小米(01810.HK)發5G新品旨積累量產經驗 廠商面臨洗牌壓力
中信証券發報告表示,就小米集團(01810.HK)昨召開5G新品發布會,發布5G旗艦機小米9 Pro、5G環繞屏概念機MIX Alpha,該行認為小米在5G換機潮來臨之前發布多款5G手機,展示研發實力,積累量產經驗,並預計2020年5G的Soc(系統單晶片)等技術將趨於成熟,屆時小米5G手機全年銷量有望達到千萬量級。
該行指,小米9 Pro採用了驍龍855Plus處理器、搭載X50基帶,支持5G NSA模式,定價3,699至4,299元人民幣,為目前所有5G手機中最低價。公司推出以舊換新,以小米8為例,補貼後最高可抵扣1,600元。
中信証券認為,5G換機潮將在明年來臨,手機廠商面臨新一輪洗牌壓力,小米提前發布5G手機,具性價比優勢,銷量值得期待。該行指,今年手機市場承壓,行業競爭加劇,小米手機收入佔比或將繼下降,物聯網(IoT)收入佔比提升,明年5G換機潮將推動手機廠商進一步洗牌,靜待小米5G新品表現,長期看好公司在IoT領域的長期空間和成長性,公司在相關領域的業務佈局,和股權投資可成未來亮點。
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