On January 9, local time, CES was launched in the United States. As an annual global blockbuster technology event, CES has been successfully held for 57 sessions so far by providing a window for many core IT vendors to release product information, display high-tech level and advocate future lifestyles. Goertek (002241) once again appeared at the CES Consumer Electronics Exhibition with a series of technical achievements in many fields such as sound, light, electrical components and intelligent machines, which attracted wide attention in the industry.
XR is expected to usher in a market outbreak, and Goertek's new products have won market attention
With Apple's Vision Pro on the horizon, the XR market is expected to be reinvigorated at this CES. In order to meet the advent of a new round of industrial growth cycle, Goertek continues to strengthen its independent research and development capabilities, consolidate its technical strength and experience, solve scientific and technological problems in the field, enhance the technical barriers of enterprises, and enhance the competitiveness of its peers, which is expected to enhance its brand power.
Goertek has a long-term strategic layout in the field of virtual reality, and has mature self-research capabilities and strong customer acquisition advantages. At this exhibition, Goertek displayed a series of front-end technical achievements in the industry. Among them, in VR, Goertek and Qualcomm jointly launched a next-generation mixed reality (MR) reference design based on the Snapdragon XR2 Gen 2 platform and Snapdragon XR2+ Gen 2 platform, integrating Goertek's self-developed new generation of 3P Pancake lens, FOV up to 95°, PPD (angular resolution) up to 44, while the contrast is improved, the ghost problem has been significantly improved, so that VR MR products can achieve more realistic virtual content and better integration with the real world. In terms of AR, Goertek further explores the lightweight boundary of AR products, and independently develops and launches lightweight AR glasses with a weight as low as 57g, a brightness of 1000nits, and a full-color Micro LED optical machine, helping to promote AR glasses to achieve a better experience.
In recent years, with the continuous increase in the shipment of VR AR machines, Goertek has begun to make efforts to the upstream of the industrial chain and is committed to providing first-class one-stop system solutions for XR optical products. At this CES, Goertek Optics launched a variety of new optical products, such as the industry's first use of COC-based in-mold injection molding technology, FOV has been increased to 105° high-performance Pancake display module; And based on the latest LCOS solution, it can adapt to 46° large FOV (can be upgraded to 53°FOV) and the industry's smallest optical machine, which achieves excellent display effect on the basis of extreme miniaturization and thinness of the module.
Capital ** pointed out that Goertek can provide a variety of VR optical solutions such as aspheric lenses, Fresnel lenses, and folded optical path modules, as well as AR optical solutions such as Freeform, Birdbath, and prisms, and continue to invest in R&D in cutting-edge optical technologies such as diffractive optical waveguides and microdisplays. Goertek Optical Industrial Park and Shanghai Optical R&D Center were opened last year, taking advantage of the regional location to closely develop and cooperate with upstream and downstream manufacturers in the industrial chain. With the successive release of new products from the company's downstream major customers, Goertek's VR AR revenue is expected to grow rapidly.
According to IDC's latest research report, China's AR VR market has ranked first in the world in recent years. According to IDC**, China's AR VR market will grow at a compound annual growth rate of 42 from 2021 to 20262%。In 2026, China's total AR VR investment will exceed 12 billion US dollars, accounting for 24% of the world's total4%, the market volume is second only to the United States. As the "leader" of XR, Goertek is expected to be the first to enjoy market dividends and drive the growth of corporate performance.
The continuous layout of the automotive electronics field is expected to become a new growth point in performance
As an emerging industry, automotive electronics has been strengthened by major manufacturers such as SAIC, BYD (002594), Huawei, and Xiaomi in the field of automotive electronics. According to data from HIS, Strategy Analytics and CICC Research, the global automotive electronics market is expected to exceed $417.6 billion in 2025. The growth of China's automotive electronics market is higher than that of the world, and it is expected to exceed 131.6 billion US dollars in 2025.
Goertek relies on its innovative advantages and deep accumulation in the field of consumer electronics such as acoustics, optics, microelectronics, and precision manufacturing, which provides basic conditions for the company to actively explore the field of automotive electronics.
Goertek has released two generations of PGU modules for in-vehicle AR-HUD in 2023. In this CES, Goertek launched free-form mirrors and cold-light mirrors for AR-HUD, which have the advantages of large size, high precision and high reliability, which can effectively ensure the imaging effect and mass production quality of AR-HUD; The infrared cut film used in the cold light mirror adopts the coating process independently developed by Goertek Optics, which can reduce the risk of sunlight backfilling. In addition, Goertek's self-developed vehicle center console, which has the industry's leading piezoelectric contact feedback technology, made its debut, with lower thickness, better anti-mistouch effect, and real feedback touch, which solves the problems of vibration dragging, cheap appearance, complex design, and easy mistouch of the on-board touch vibration feedback scheme. It is worth mentioning that Goertek has also launched the cockpit active noise reduction scheme (RNC) for automotive noise, vibration and harshness (NVH) and other issues, which can reduce the noise in the vehicle while reducing the total weight of the vehicle, and further improve the comfort and safety of vehicle driving and riding.
Anxin believes that the automotive electronics industry will become another big development opportunity at the whole industry chain level after home appliances, PCs and mobile phones. The automotive electronics industry has entered a new round of technological innovation cycle, and its penetration rate and value will be greatly improved, with a market space of more than one trillion yuan. In this regard, industry insiders believe that at the time of the automotive electronics industry market outlet, Goertek shares are expected to make a profit.
R&D strength supports the further upgrading of wearable technology and continues to consolidate the leading position in the industry
With the gradual enhancement of people's health awareness, the smart wearable market is picking up day by day. In this exhibition, Goertek also launched a variety of self-developed smart wearable and smart home products, including a variety of health monitoring products that meet market demand. Including the photoelectric blood pressure product Bambi, which allows people to monitor blood pressure anytime, anywhere, without feeling and comfortably, and obtain accurate and reliable medical-grade level data, which is also another new exploration in the health field after Goertek after medical-grade ECG monitoring and balloon blood pressure monitoring. Not only that, Goertek also innovatively launched the "Family Health Butler" smart speaker product KEEPER, which integrates health monitoring functions such as body temperature (contactless), heart rate, blood oxygen, ECG, blood pressure, etc., with medical-grade accuracy, supporting multi-person use and multi-device interconnection.
The innovation of products comes from the iterative upgrading of technology. In recent years, Goertek has continued to increase investment in scientific research, actively introduced high-end technical talents, and consolidated technical barriers with science and technology as the core. According to public information, in the first half of the year, Goertek's R&D expenses exceeded 2 billion, accounting for more than 4% of the receivables, a year-on-year increase of 553%。It is worth mentioning that Goertek has maintained about 3,000 patent applications every year, and has applied for more than 3 patents so far20,000 items.
From the perspective of the industry, in the long run, with the rise of Huawei's industrial chain, superimposed on the launch of Apple's Vision Pro and Vision Pro cheap version, it is expected to set off another wave of technology and drive the consumer electronics industry to further recover. Soochow ** (601555) research report said that with the economic recovery and the pull of the head brand, the entire consumer market is gradually showing signs of recovery, and the valuation level of the consumer electronics sector is low as a whole, and there is a lot of room for repair.
Goertek continues to improve the industrial chain ecosystem, expand the capacity of multiple tracks and deepen the core technology, promote the company to capture market opportunities more quickly, and constantly consolidate the core competitiveness, while not changing the long-term growth trend, the future is still promising.