Investment Value Analysis of Doubao AI Glasses and ByteDance's Smart Glasses Track

Based on the latest market research and industry data, I will provide you with a systematic and comprehensive investment analysis.

---

According to a January 5, 2026 report from Blue Whale News, ByteDance’s “Doubao” AI Glasses are about to enter the shipping phase [1]. This product has the following key features:

• Weight controlled within
  50 grams
  to ensure wearing comfort
• Equipped with
  self-developed spatial algorithm chip
  with AI computing capabilities
• Requires pairing with the Doubao App, deeply integrated with the existing AI service ecosystem
• Plans to launch multiple configuration options (with/without camera function, with/without display function, etc.)

Version Type	Expected Launch Time	Core Features
Screenless Version	Q1 2026	Basic AI interaction functions, starting price under RMB 2,000
Screen Version	Q4 2026	Supports visual display, higher pricing

• Joint R&D
  : ByteDance and Longcheer Technology jointly developed the product at the Huizhou factory
• Mass Production Base
  : Longcheer’s Nanchang factory undertakes mass production tasks
• Division of Labor
  : Longcheer is responsible for underlying UI development, while ByteDance focuses on upper-layer App development
• Standardized Baseline
  : A standardized technical solution based on mature products, significantly reducing costs [1][2]

---

Longcheer Technology (603341) is a world-leading ODM manufacturer of smart products, founded in 2004, listed on the main board of the Shanghai Stock Exchange in March 2024, and is actively seeking “A+H” dual-listing [3].

Indicator	Data	Evaluation
Annual Revenue	Over RMB 40 billion	Leading scale
Gross Profit Margin	Relatively low	Common characteristic of the ODM industry
Net Profit	Weak main business profitability	Transformation pressure
New Businesses	AI glasses, automotive electronics	Growth potential

• Longcheer Technology has set a
  minimum order quantity of 1 million units
  for AI glasses orders, indicating positive expectations for market prospects [1]
• In December 2025, the company announced an investment of
  approximately RMB 1.5 billion
  to build an AI+Smart Terminal Digital Benchmark Factory project in Nanchang
• Construction period is 24 months, focusing on mobile smart terminals such as laptops, smart glasses, and TWS earphones [4]

1. Technology Accumulation
   : Has rich experience and technical reserves in large-scale production of smart products
2. Customer Resources
   : Has established long-term cooperative relations with ByteDance
3. Capacity Expansion
   : The RMB 1.5 billion investment will significantly enhance manufacturing capacity for AI smart terminals
4. Synergistic Effect
   : Highly synergistic with existing smartphone and personal computing businesses

• The ODM industry is large-scale but has meager profits, with growth challenges to be addressed
• New businesses such as AI glasses and automotive electronics are still in the early stage of development
• Performance and valuation are still affected by the prosperity of the smartphone industry
• Whether new businesses can effectively improve overall profitability remains to be verified [3]

---

ByteDance’s investment in AI hardware is unprecedented:

Time Node	Capital Expenditure	YoY Growth	Main Investment Direction
2025	RMB 150 billion	88%	AI infrastructure and hardware
2026 (estimated)	RMB 160 billion	6.7%	Continue to increase investment in the AI track
AI Glasses Special R&D	Over RMB 50 million	-	Product R&D and testing

ByteDance is building an AI ecosystem of

:

Doubao AI Ecosystem Matrix
├── AI Headphone Ola Friend (launched in 2024)
│   └── Emphasizes AI voice interaction experience
│
├── Doubao Mobile Assistant + nubia M153 Engineering Machine (December 2025)
│   └── Deeply integrates Doubao capabilities, OS-level integration
│
└── Doubao AI Glasses (estimated 2026)
    └── Weight <50g, multiple configuration options

ByteDance has accumulated rich hardware experience through

:

1. Acquisition and Integration
   :
   • VR brand PICO: Provides VR/AR technology reserves
   • Open-ear headphone brand Oladance: Audio solutions and user data accumulation

2. Strategic Investment
   :
   • Smart glasses company Liweike

3. OEM Cooperation
   :
   • Established long-term cooperative relations with Longcheer Technology
   • Formed a standardized technical baseline based on mature products

“The entrance is a key moat, and also a toll booth. Whoever controls the distribution right has the right to speak.”[2]

Against the backdrop of AI becoming the “new operating system”, ByteDance’s strategic logic is:

• Shift from service entrance to scenario entrance
  : The Doubao App has initial AI service capabilities and accumulated user scale
• Device expansion of touchpoints
  : Implant “seamless invocation” AI capabilities through terminals such as headphones, mobile phones, and glasses
• Bypass system monopolies
  : Leverage the AI wave to bypass the entrance monopolies of Android and iOS and re-compete for the “first touchpoint”

---

• H1 2025 global smart glasses shipments
  grew 110% YoY
• AI glasses account for
  78%
  of total smart glasses shipments

• Shipments exceeded
  1 million units
• Accounts for
  26.6%
  of the global market share
• Expected to reach a
  critical turning point for large-scale adoption
  in 2026
• The AI glasses market is expected to reach a
  hundred-billion-yuan scale

Competitor	Core Advantages	Product Features	Price Range
Alibaba Quark AI Glasses	Manufactured by Luxshare Precision, mature supply chain	“Sold out” after launch, 45-day delivery cycle	RMB 1,899-5,000
Baidu Xiaodu AI Glasses Pro	Deep accumulation of AI technology	Real-time translation, photography and other AI capabilities	Mid-to-high-end positioning
Xiaomi AI Glasses	Brand and channel advantages	Enhanced imaging experience	Starting at RMB 1,999
Li Auto AI Glasses	Vehicle-mount collaborative ecosystem	Smart cockpit linkage	Starting at RMB 1,999

• Alibaba Quark AI Glasses quickly “sold out” after launch, with second-hand market prices inflated to RMB 4,000-5,000
• Major players such as Baidu, Tencent, Xiaomi, and Li Auto have already entered the market
• Start-ups have launched a “hundred glasses war”, with numerous market participants
• The industry is still in the early stage, and the competitive pattern has not yet solidified

---

• 2025 global smart glasses market grew 110%, in a high-growth early stage
• 2026 is regarded as the critical turning point for large-scale adoption of China’s smart glasses market
• The proportion of AI glasses continues to rise (reached 78%), enhancing industry certainty

• Cumulative capital expenditure is expected to exceed RMB 300 billion in 2025-2026
• Build a complete AI hardware matrix from headphones to mobile phones to glasses
• Over RMB 50 million in special R&D investment, clear strategic intent

• Minimum order quantity of 1 million units shows confidence in orders
• RMB 1.5 billion investment in capacity expansion, sufficient capacity support
• “A+H” dual-listing is imminent, strong capital market support

• Expected starting price under RMB 2,000, in the mainstream consumer range
• Aggressive pricing strategy compared to competitors (Alibaba starts at RMB 1,899, Xiaomi starts at RMB 1,999)

• AI glasses are still in the early stage, and user habits have not yet fully formed
• Whether the product experience can form a user demand path remains to be verified
• The second-hand market premium (Alibaba’s product inflated to RMB 4,000-5,000) reflects supply-demand imbalance, but it may be a short-term phenomenon

• Major players such as Alibaba, Baidu, Xiaomi, and Li Auto have all entered the market
• Start-ups’ “hundred glasses war” leads to fierce competition
• The industry pattern is not yet solidified, with uncertainties

• ByteDance is not a hardware-originated company, and its hardware capabilities remain to be verified
• There is a gap from App to system-level entrance
• Although the joint R&D model has advantages, it also increases coordination costs

• Low gross profit margin in the ODM industry
• New businesses contribute limitedly, and performance is under pressure in the short term
• The payback period of the RMB 1.5 billion investment is long

Investment Target	Investment Logic	Risk Level	Recommendation
Longcheer Technology (603341)	Leading AI glasses OEM, capacity expansion supports growth	Medium-High	Focus on the landing of AI glass orders
ByteDance Supply Chain Enterprises	Share the dividends of the AI hardware ecosystem	Medium	Focus on deepening cooperative relations
Upstream Component Enterprises of AI Glasses	Benefit from the high growth of the industry	Medium-High	Focus on technical barriers

---

The upcoming shipment of Doubao AI Glasses marks a critical stage in ByteDance’s layout of the smart glasses track. From an investment perspective:

1. Track on the eve of outbreak
   : The global smart glasses market grew 110% in 2025, and the industry is in the early stage of high growth
2. ByteDance’s firm investment
   : RMB 300 billion-level capital expenditure to build an AI hardware ecosystem, clear strategic intent
3. Adequate supply chain preparation
   : Longcheer’s minimum order quantity of 1 million units + RMB 1.5 billion capacity investment, sufficient capacity support
4. Aggressive pricing strategy
   : Starting price within RMB 2,000 has strong market competitiveness

1. Market response of the screenless AI glasses after its Q1 2026 launch
2. Whether user experience can form a usage demand
3. Evolution trend of the industry competition pattern
4. Actual landing of Longcheer Technology’s AI glass orders

: The smart glasses track has long-term investment value, and ByteDance’s strategic layout is worthy of attention. In the short term, focus on the order landing and capacity release of Longcheer Technology (603341); in the medium and long term, focus on investment opportunities in the entire AI glasses industry chain.

---

[1] Blue Whale News - “ByteDance’s Doubao AI Glasses are about to enter the shipping phase” (January 5, 2026)
[2] 36Kr - “Behind the denied AI glasses is ByteDance’s bigger ambition for AI terminals” (December 2025)
[3] EO Intelligence - “Longcheer Technology actively seeks ‘A+H’: Annual revenue over RMB 40 billion VS transformation under low gross profit margin” (January 4, 2026)
[4] Securities Times Network - “Longcheer Technology invests RMB 1.5 billion to build Nanchang digital benchmark factory for smart terminals such as AI glasses” (December 27, 2025)