Apple has launched a training program for its retail store employees, bringing Vision Pro closer. Meanwhile, the rise of the Chinese VR "fruit chain" is on the horizon.

It has been half a year since the debut of Apple Vision Pro headset. Recently, there have been more and more reports related to Vision Pro, from employee training to production plans. It seems that Apple is preparing for the official release of Vision Pro.

On December 11th, media reports stated that in order to successfully launch Vision Pro in early 2024, Apple plans to conduct employee training courses related to the use and sales of Vision Pro in mid-January next year. Selected employees from various stores will be sent to Cupertino, California for a two-day training.

The media pointed out that as the most complex product ever manufactured by Apple, the setup process of Vision Pro is very complicated. Apple does not want any issues to arise during the sales process. The device needs to be customized according to each individual's needs, and improper installation may ultimately affect the user experience. Therefore, Apple needs to carefully plan every step, including teaching sales staff how to interact with customers and properly adjust the device to fit the user's head.

The release date of Vision Pro has always been controversial. Previously, some media claimed that the release date would be postponed from January to March next year due to the company's distribution plan and final testing not being completed.

However, recent reports suggest that Apple retail stores have already prepared for Vision Pro, and the target is still to release it in January next year. The media cited supply chain sources as saying that the production capacity bottleneck of OLEDoS display has been broken through by Chinese mainland companies and has entered mass production. The supply chain has already prepared for an annual production capacity of 1 million units.

According to supply chain sources cited by the media, Apple Vision Pro will enter mass production in December, and the proportion of Chinese mainland supply chain has significantly increased to 60%. Apple plans to officially mass produce the first generation of Vision Pro in December, with an initial stock of 400,000 units. In addition, Apple has set a sales target of 1 million units for this device in 2024, and plans to achieve a sales volume of 10 million units in the third year.

As a heavyweight product in the XR field, Vision Pro is seen as a milestone achievement in the development of consumer electronics.

In its report on December 11th, Founder Securities pointed out that Apple Vision Pro is starting a new round of revolutionary innovation and will embrace a bright future. Specifically, in various aspects of the industry chain, Apple is expected to embrace the Chinese supply chain again, and Chinese related manufacturers may benefit from the increase in sales of Apple MR headsets:

Apple Vision Pro currently costs around $1700 and is expected to be released in early 2024. The second-generation affordable product is expected to hit the market in 2025-2026, driving the sales of headsets to a new level with high cost performance.

With the improvement of China's supply chain status, the proportion of Vision Pro's Chinese mainland supply chain is expected to increase. Luxshare Precision is expected to become the exclusive assembly factory for Apple headsets, and Lens Technology has expressed clear purchasing demands from customer C. We believe that Apple is expected to embrace the Chinese supply chain again, and Chinese related manufacturers are expected to benefit from the increase in sales of Apple MR headsets.

Apple Vision Pro Revolutionizes MR with Innovative Features

In its report, Fangzheng Securities pointed out that Apple Vision Pro is ushering in a new wave of revolutionary innovation. At this year's WWDC Global Developers Conference in June, the long-awaited MR headset Vision Pro was finally released. Although the price is higher than expected, its powerful performance still demonstrates the product support behind its high price and Apple's years of technological accumulation:

1. Chip: Equipped with two 5nm main control chips, the main processor M2 chip handles various calculations with a core frequency of up to 3.49GHz. Most VR headsets are equipped with the Qualcomm Snapdragon XR2 Gen1 chip, which has a core frequency of only 1.8GHz. The other co-processor R1 chip is responsible for data transmission with a latency of less than 12ms.

2. Display: It features two 1.42-inch Micro OLED displays with 4K resolution, while most competitors use LCD screens.

3. Optical Solution: Based on the commonly used Pancake 2P solution in the industry, Vision Pro adopts a brand-new Pancake 3P solution, which can achieve lower chromatic aberration and higher image pixel density.

4. Cameras and Sensors: Vision Pro is equipped with 12 cameras and 5 sensors (1x LiDAR + 2x structured light depth sensors + 2x IR infrared sensors), which are used for SLAM spatial environment perception, gesture recognition, 3D modeling, eye tracking, and other functions.

Bringing Opportunities to the Domestic Supply Chain

Fangzheng Securities pointed out that as China's supply chain status improves, the proportion of Apple Vision Pro's domestic supply chain in mainland China is expected to increase. Apple is expected to embrace the Chinese supply chain again, and Chinese related manufacturers are expected to benefit from the increased sales of Apple's MR headsets:

The second-generation affordable product is expected to be launched in 2025-2026, driving headset sales to a new level with high cost performance. According to previous media reports, the positioning of the second-generation Vision Pro will be more affordable. It is currently still in the development stage with the internal development codename "Project Alaska." It is scheduled to enter the formal product verification stage in 2025 and will be released by the end of 2025 or early 2026.

Media reports stated that the second-generation Apple Vision Pro will have all the functions of the first-generation Apple Vision Pro, but it will be smaller in size and lighter in weight, making it more comfortable to wear. The second-generation Apple Vision Pro will have four versions, with at least one being priced affordably, costing only half of the first generation, around $900 (approximately RMB 6,436), and the estimated selling price including other expenses will be around RMB 15,000. We believe that the current high material cost of Apple Vision Pro makes it difficult for most people to afford. In the future, as the shipment volume of the headset increases and the related fixed costs are amortized, coupled with the launch of a more affordable version of the headset, it will drive the sales of the headset to a new level.