<p>全球内存供应危机正在席卷电子行业，激增的组件成本威胁到中国智能手机和宽带设备制造商。来自 TrendForce 和 Counterpoint Research 的新数据显示，消费者电子供应链面临日益增加的风险，内存价格在人工智能数据中心持续需求的推动下飙升。根据周四发布的 Counterpoint Research 数据，消费设备中使用的内存价格——从个人电脑和入门级智能手机到路由器和机顶盒——在过去一年中上涨了超过 600%。对于许多中国科技公司来说，后果正变成一场生存斗争。TrendForce 在周三的一份报告中表示，预计上升的内存成本将对 2026 年的全球智能手机生产产生压力，产量预计将同比下降约 10%，降至大约 11 亿部。专注于价格敏感的入门级市场的国内厂商——包括智能手机厂商小米和传音——特别容易受到成本波动的影响，预计在 2026 年将看到 “生产的显著下调”。这两家公司已经开始收紧出货目标。总部位于北京的小米已将其对上游供应商的最新出货指导下调了 1000 万至 7000 万部，而总部位于深圳的传音则将其年度目标下调了 3000 万至 4500 万部。相比之下，华为技术预计将保持相对韧性。TrendForce 表示：“在最坏情况下，华为可能经历最小的生产调整，甚至可能在整体市场趋势下实现增长，” 并引用了该公司更 “灵活的定价策略”。除了智能手机，宽带硬件面临的成本压力更为严峻。Counterpoint 表示，过去九个月中，路由器和机顶盒中使用的消费内存价格几乎上涨了七倍。内存现在占路由器成本的 20% 以上，较一年前的 3% 大幅上升。中国的这一激增可能会使该国由中国移动、中国电信和中国联通主导的 5G 快速部署变得复杂。Counterpoint 表示，运营商可能会面临更高的路由器和机顶盒采购成本，因为 “内存寒冬” 持续，可能会延缓部署时间表。分析师补充道，电信公司需要密切关注价格动态，识别哪些设备制造商已确保足够的供应，并跟踪组件成本的变化。</p>

小米集团(ADR)

传音控股

<p>全球内存供应冲击正在影响中国的智能手机和宽带制造商，过去一年内存价格因人工智能数据中心的高需求飙升超过 600%。预计这一激增将导致 2026 年全球智能手机生产减少 10%，影响到小米和传音等公司，这些公司已经下调了出货目标。与此同时，华为可能因灵活的定价策略而保持韧性。不断上涨的成本也使中国的 5G 推广变得复杂，因为电信运营商面临着必需硬件的采购成本增加</p>

<p>A global memory supply shock is sweeping through the electronics industry, as surging component costs threaten to squeeze China’s smartphone and broadband equipment manufacturers. New data from TrendForce and Counterpoint Research point to mounting risks across the consumer electronics supply chain, with memory prices soaring amid a supply crunch driven by relentless demand from artificial intelligence data centres. Prices for memory used in consumer devices – from PCs and entry-level smartphones to routers and set-top boxes – had risen by more than 600 per cent over the past year, according to Counterpoint Research data released on Thursday. For many Chinese tech companies, the fallout is becoming a fight for survival. Rising memory costs were expected to weigh on global smartphone production in 2026, with output projected to fall about 10 per cent year on year to roughly 1.1 billion units, TrendForce said in a report on Wednesday. Domestic vendors focused on price-sensitive, entry-level segments – including smartphone vendors Xiaomi and Transsion – were particularly exposed to cost swings and were likely to see “significant downward revisions to production” in 2026, the firm said. Both companies have already moved to rein in shipment targets. Beijing-based Xiaomi has cut its latest shipment guidance for upstream suppliers by between 10 million and 70 million units, while Shenzhen-based Transsion has lowered its annual target by 30 million to 45 million units. Huawei Technologies, by contrast, is expected to remain relatively resilient. “Huawei is likely to experience the smallest production adjustment under the bear-case scenario, and could even post growth against the broader market trend,” TrendForce said, citing the company’s more “flexible pricing strategies.” Beyond smartphones, broadband hardware is facing even steeper cost pressures. Prices for consumer memory used in routers and set-top boxes had jumped nearly sevenfold over the past nine months, Counterpoint said. Memory now accounted for more than 20 per cent of a router’s cost, up from just 3 per cent a year earlier, it added. In China, the surge is poised to complicate the country’s aggressive 5G roll-out, led by major telecoms operators China Mobile, China Telecom and China Unicom. Operators were likely to face higher procurement costs for routers and set-top boxes as the “memory winter” persisted, potentially slowing deployment timelines, Counterpoint said. Telcos would need to monitor price dynamics closely, identify which device makers had secured adequate supply, and track shifts in component costs, the firm’s analysts added.</p>
<div class="lb-trans"><p>全球内存供应危机正在席卷电子行业，激增的组件成本威胁到中国智能手机和宽带设备制造商。来自 TrendForce 和 Counterpoint Research 的新数据显示，消费者电子供应链面临日益增加的风险，内存价格在人工智能数据中心持续需求的推动下飙升。根据周四发布的 Counterpoint Research 数据，消费设备中使用的内存价格——从个人电脑和入门级智能手机到路由器和机顶盒——在过去一年中上涨了超过 600%。对于许多中国科技公司来说，后果正变成一场生存斗争。TrendForce 在周三的一份报告中表示，预计上升的内存成本将对 2026 年的全球智能手机生产产生压力，产量预计将同比下降约 10%，降至大约 11 亿部。专注于价格敏感的入门级市场的国内厂商——包括智能手机厂商小米和传音——特别容易受到成本波动的影响，预计在 2026 年将看到 “生产的显著下调”。这两家公司已经开始收紧出货目标。总部位于北京的小米已将其对上游供应商的最新出货指导下调了 1000 万至 7000 万部，而总部位于深圳的传音则将其年度目标下调了 3000 万至 4500 万部。相比之下，华为技术预计将保持相对韧性。TrendForce 表示：“在最坏情况下，华为可能经历最小的生产调整，甚至可能在整体市场趋势下实现增长，” 并引用了该公司更 “灵活的定价策略”。除了智能手机，宽带硬件面临的成本压力更为严峻。Counterpoint 表示，过去九个月中，路由器和机顶盒中使用的消费内存价格几乎上涨了七倍。内存现在占路由器成本的 20% 以上，较一年前的 3% 大幅上升。中国的这一激增可能会使该国由中国移动、中国电信和中国联通主导的 5G 快速部署变得复杂。Counterpoint 表示，运营商可能会面临更高的路由器和机顶盒采购成本，因为 “内存寒冬” 持续，可能会延缓部署时间表。分析师补充道，电信公司需要密切关注价格动态，识别哪些设备制造商已确保足够的供应，并跟踪组件成本的变化。</p>
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内存价格 “超过 600%” 的飙升震动了中国的手机和宽带制造商