＜Research＞G Sachs: SUNNY OPTICAL Expects 2024 Global Smartphone Shipments to Mildly Recover, Thinks AI Expanded Camara's Potential Mkt

　　Goldman Sachs issued a research report after attending SUNNY OPTICAL (02382.HK) -0.750 (-1.442%) Short selling $344.87M; Ratio 28.669% 's 2024 Investor Day. During the event, the company discussed the recovery in demand for smartphone cameras, upgrades in automotive camera specifications and pricing pressures, as well as the impact of artificial intelligence on the optics industry.

　　The broker pointed out that overall, SUNNY expected global smartphone shipments to recover moderately in 2024 (up 3.5% YoY) and is optimistic about growth driven by improvements in its own product portfolio and customer mix. Automotive camera specifications saw continued upgrading and growing demand as the company sought to reduce costs in the face of pricing pressures from automotive OEMs.

　　Related NewsCLSA: SUNNY OPTICAL Slightly Adds 2024 Global Smartphone Sales Forecast, Expands Edge AI Product Lineup

　　In addition, the company believed AI has expanded the potential market for cameras for edge smart devices and robots. Camera specifications would remain vital as hardware functionality cannot be fully replaced by software or AI.

　　Goldman Sachs gave SUNNY a $65 target price and maintained its Neutral rating.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-19 16:25.)

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