As the fall consumer tech season gets underway, smart glasses, with many components made in China, are becoming an emerging category. The glasses are a simpler version of Apple’s pricey Vision Pro, not to mention the high-end technology required for virtual reality headsets. Snap has launched augmented reality glasses; Meta is expected to do so at its own event starting on September 25th. Get attention. He said that second-generation smart glasses sold more than 1 million pairs in the first half of this year, while the first-generation sold 300,000 pairs between September 2021 and February 2023, he said. discontinued) has struggled to gain widespread acceptance beyond a niche audience. “We think an inflection point may be coming, triggered by the coming surge of AI assistants/agents,” he said, noting that one of the Hong Kong-listed HSBC Buy-rated picks riding on this trend is Sunny Optical. The analyst said: “Another reason why we are optimistic about Sunny is its leading technology in the field of wearable device optics, and we believe it will benefit from higher-than-expected demand for Ray-Ban smart glasses in the next two years.” “In our view, Under the base case, we estimate that Sunny’s smart glasses (non-smartphone camera modules) shipments will reach 2 million units and 5 million units respectively in 2024-25 (content value is approximately US$8-10), with other OEMs such as Xiaomi,” the HSBC report said. Sunny Optical is a Chinese supplier of products ranging from automobiles to microscopes. According to investors, the company also has factories in Vietnam and India. Low profile Sonny otherwise kept a low profile. However, CMB International analysts said in August that first-half fiscal year revenue in Europe and the United States grew by 32% and 15% respectively, “which means… strong sales from European automakers and Apple/Meta VR in the United States.” According to According to promotional materials, Ray-Ban Meta smart glasses, which cost about US$300, allow users to take photos, edit short videos, listen to music and interact with Meta’s artificial intelligence features. The optical company’s non-smartphone camera module shipments surged about 61% for the full year through July, which HSBC attributed to “booming sales” of Ray-Ban Meta smart glasses. HSBC set a target price for Sunny Optical at HK$58.90 (US$7.56), an increase of approximately 30% from Friday’s closing price. The bank upgraded Sunny to a buy rating in late August. Still, Sunny Optical remains sensitive to the highly competitive smartphone and automotive markets. JPMorgan analysts were less optimistic in mid-August after Sunny Optical held its first-half earnings conference call. “While we also believe that the worst for Sunny Optical’s fundamentals is over and the recovery is on track, we maintain a neutral rating,” JPMorgan said, citing slower growth in high-end smartphone products than peers and automotive Business growth was also lower. JP Morgan’s target price is HK$55. —CNBC’s Michael Bloom contributed to this report.
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved