According to a research report by China Bank International, the bank believes that the global smartphone market is still weak in the fourth quarter of 2022, mainly due to weak downstream demand, uncertainty of the macro environment and no obvious trend of mobile phone hardware upgrading. The bank expects the global / Chinese smartphone market to fall 9 per cent year-on-year and 15 per cent in fiscal 2022. Recent tripartite market data revealed that Chinese smartphone sell-in/sell through (shipment / wholesale) data fell 31% in July from a year earlier (up 9% / 8% in June), while global smartphone sell-in data fell 16.5% in July from a year earlier (16.1% in June).

Looking forward to the fourth quarter, the bank believes that the only bright spot in the smartphone industry will be the restocking of the iPhone mobile phone supply chain. The bank is optimistic about related companies, such as iPhone/Watch/AirPods OEM Lixun Precision, Goyle shares (002241MUA), which will benefit from the increase in Watch/AirPods share, and those that will benefit from iPhone's strong shipments.$FIT Hon Teng Limited (06088.HK)$和$TONGDA GROUP (00698.HK)$. Line pair$SUNNY OPTICAL (02382.HK)$、$BYD ELECTRONIC (00285.HK)$And$AAC TECH (02018.HK)$Maintain a rating.