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1、16October2017AsiaTechnologySectorEQUITIESSEMICONDUCTORSmartphonesgettingsmarterTAIWANGrowingAIadoptionamonghigh-endsmartphonesBruceLu*Analyst,TechnologySmartphoneAIdevelopmentstillatearlystagesHSBCSecurities(Taiwan)CorporationLimitedbruce.kl.lu@hsbc.com.tw+886266312861O
2、utlookforkeyplayersThurstonLee*AssociateGrowingAIadoptionamonghigh-endsmartphones:InconjunctionwithourHSBCSecurities(Taiwan)CorporationLimitedthurston.jc.lee@hsbc.com.twrecentMediatekreport(Mediatek:SizingtheASICopportunity,13Oct2017),where+886266312862wediscussedthetrendofsys
3、temhousesdevelopinghigh-endapplicationprocessorsinternally,andourAIthematicreports(ArtificialIntelligence:Chipswitheverything,16*Employedbyanon-USaffiliateofHSBCSecurities(USA)Inc,andisnotregistered/qualifiedpursuanttoFINRAregulationsOct2017andArtificialintelligenceandtheprodu
4、ctivityparadox,15Aug2017),wehighlightanothertrendofhigh-endsmartphonesincorporatingAI/machinelearningfunctionalitiesandneuralprocessingunits(NPUs).Webelievethistrend,asobservablethroughrecentlaunchesofApple’sA11andHuawei’sKirin970,willallowbothsoftwareandhardwaredeveloperstofu
5、rtherextendsmartphones’capabilitiesinareassuchas3Dsensing/AR/VR/real-timedataprocessing,furtherimprovetheuserexperienceandpotentiallyexcitethestagnantglobalsmartphonedemandagain.AIdevelopmentstillatearlystages:Althoughwehavejuststartedtowitnessnewdevelopmentsinnewfunctionaliti
6、es,suchasApple’snewFaceID,weexpectmoreapplicationstoemergeandutilizethepotentialityofAI/machinelearning.WebelieveHuawei’sapproachofcombiningon-deviceandcloudmachinecalculationstocreateamobileAIshouldbeagoodexample.Lookingforward,weexpectsupportfromdevelopersinalgorithmandsoftw
7、are/applicationdevelopmenttofurtheracceleratethedeploymentofAIfunctionalities.Aspartofthedevelopment,weexpectfutureapplicationprocessorstoexhibitlargerdiesizesasaresultofNPUadditions,andtherelationshipbetweenchipsetprovidersandsmartphonevendorstobecomeeventightergivenhigherint
8、egrationbetweensoftwareandhardware.Outlookforkeyplayers:Webel