Laofengxiang setzt sich in die Branche der AI-Brillen ein. Hat es wirklich die Fähigkeiten dazu?
The long - rumored Xiaomi AI glasses are not here yet. Instead, the long - established and respected company Lao Fengxiang, which is engaged in the gold and jewelry business, has presented its AI glasses for the first time.
Recently, Lao Fengxiang officially presented its AI glasses for the first time at the Shanghai Old Expo, triggering intense discussions in the market. The news that Lao Fengxiang wants to enter the field of AI glasses has dropped a bombshell on the capital market. Lao Fengxiang's stock price reached its highest point on that day but then fell back. By June 20th, the stock price had dropped below 50 yuan again.
According to media reports, the AI glasses to be presented by Lao Fengxiang have functions such as real - time voice navigation, real - time translation, intelligent reading assistance, emotional dialogue, and real - time commenting. It is even claimed that they have functions like "medicine label recognition" and "menu translation". However, from the information published by Lao Fengxiang on its official account, it can be seen that Lao Fengxiang's AI glasses have ordinary frames and nothing special in appearance.
Regarding the price and market entry of Lao Fengxiang's glasses, a customer service staff member of Lao Fengxiang told AI Blue Media Pool in a phone call that there was still no news about the AI glasses and all information was pending.
Industry insiders believe that after smartphones, the next intelligent hardware sector that may explode could be AI glasses. The market volume could reach up to 10 billion US dollars.
Large companies from China and abroad are actively getting involved in this field. Besides Meta, Chinese companies such as the "Five AR Dragons" Rokid, XREAL, Leiniao Innovation, Xingji Meizu, and Yingmu Technology are already in the first tier. However, the differences in technology and sales volume among these five brands are not very obvious.
Moreover, there are rumors that Google, Apple, Xiaomi, ByteDance and other companies want to enter the field of AI glasses.
According to the latest "Global Quarterly Smart Glasses Market Tracker" by the International Data Corporation (IDC), the shipment of smart glasses in the Chinese market in the first quarter of 2025 was 494,000 units, a year - on - year increase of 116.1%. Among them, the shipment of audio and audio - recording glasses was 359,000 units, a year - on - year increase of 197.4%, and the shipment of AR/VR glasses was 135,000 units, a year - on - year increase of 25.2%.
As an old and respected company mainly engaged in the gold and jewelry business, the question of whether Lao Fengxiang's entry into the field of AI glasses is a brand upgrade or a marketing trick will be clarified soon after it enters the market.
AI Glasses with a Gold Rim
Unlike the AI glasses of large companies, which are more targeted at young technology enthusiasts, Lao Fengxiang, which is a bit of an "outsider" in high - tech, targets the elderly population.
Data shows that there are already 310 million people over 60 years old in China. The aging trend of the population cannot be stopped for the time being, and the number of the elderly will increase in the future. As they get older, the elderly need more and more technological products to solve various inconveniences in daily life.
Lao Fengxiang has recognized this huge market demand of the elderly for AI glasses and has thus entered the hardware market. The four main functions of the presented AI glasses include real - time voice navigation, real - time translation, intelligent reading assistance, emotional dialogue, and real - time commenting, which basically cover the main functions of current AI glasses. Considering that Lao Fengxiang's target group is the elderly, functions like intelligent reading assistance really sound useful.
According to online rumors, the basic version of Lao Fengxiang's AI glasses costs between 1,200 and 1,500 yuan, and the gilded version could be close to 2,000 yuan. This is in the same price range as mainstream products in the market. Considering that Lao Fengxiang's AI glasses basically cover all the main functions of current AI glasses, the price is relatively reasonable.
Moreover, the requirements of the elderly for technological products are not very complex. Simplicity and practicality are important. This could be a potential advantage for Lao Fengxiang as it enters this field.
An over - 80 - year - old woman told AI Blue Media Pool after watching the promotional video of Lao Fengxiang's AI glasses that she would be interested in the glasses if the function of a hearing aid could be added. A newly retired lady said that although she was interested in some functions, if the price was too high or charging was required too often, she would not consider it for the time being.
Lao Fengxiang was founded in 1848 and is a "century - old gold brand" among Chinese jewelry and domestic enterprises. The company has several professional jewelry production sites and a jewelry research center. In 2024, according to the statistics of the well - known company Brand Finance, Lao Fengxiang ranked 137th in the list of the 500 Chinese brands with the highest brand value.
Some analysts believe that Lao Fengxiang enters the field of AI glasses to counter the slowdown in growth in its core business, the jewelry industry. Under the pressure of the economic situation and the gold price, Lao Fengxiang is facing difficulties in its business operations. With the help of its brand awareness, Lao Fengxiang wants to enter the growing market of intelligent hardware to upgrade its brand and find a second growth curve. But from the actual investments and actions, it seems more like it is telling a story for the capital market.
Both Software and Hardware are Purchased
Although the imagination effect of AI glasses for the elderly is great, Lao Fengxiang has obvious disadvantages when entering the field of AI glasses, namely the lack of core technological competence.
According to reports, Lao Fengxiang is only responsible for the frame of the AI glasses, and the other components are purchased and integrated.
If Lao Fengxiang is only responsible for the frame, it means that it is completely dependent on suppliers in terms of software and hardware technology. This is not good in the field of intelligent devices.
In terms of AI technology, Lao Fengxiang has made it clear in every picture in its tweets that its AI glasses are technologically supported by the Doubao large - scale model. However, ByteDance has responded that it has no plans to cooperate with Lao Fengxiang to develop AI glasses. The Doubao large - scale model is a publicly - sold product, and any customer can legally purchase it.
Industry insiders analyze that Lao Fengxiang's AI glasses may have only developed something based on the Doubao large - scale model, or it may have outsourced the development to an external company.
In the hardware field, the integration of AI glasses is also not easy, even if it is just about integration. Due to the special product form of glasses, there is the problem of how to balance performance, battery life, and wearing comfort. That is, if you want good performance of the AI glasses, the battery will be more heavily loaded, and the weight of the glasses will increase, which directly affects the wearing comfort. Therefore, many AI glasses manufacturers make weight and battery life important selling points to prove how good their products are.
It is known that Lao Fengxiang has only shown its products at the fair, and the specific parameters have not been published, nor have the suppliers of the core components been named. So it is hard to say how good the product actually is. The market expects that the price of the basic version of Lao Fengxiang's AI glasses will not exceed 1,500 yuan. This price is in the lower - to - middle range in the current AI glasses market. Products in this price segment usually do not have special advantages in terms of performance.
Entering Another Field with a Weak Core Business
It is still unclear how far Lao Fengxiang wants to develop AI glasses, but it is certain that by entering another field, it is trying to improve its business performance.
The latest balance - sheet data shows that both the sales revenue and net profit of Lao Fengxiang in 2024 and the first quarter of 2025 have declined compared with the previous year. The first - quarter quarterly report shows that Lao Fengxiang's sales revenue was 17.521 billion yuan, a year - on - year decrease of 31.64%. The net profit attributable to the shareholders of the parent company was 613 million yuan, a year - on - year decrease of 23.55%. The basic earnings per share were 1.1719 yuan, also a year - on - year decrease of 23.55%.
In terms of R & D expenditure, the R & D expenditure in the first quarter decreased by 38.162 million yuan compared with the previous year, a decrease of 40.28%.
In the face of the decline in business performance and the sharp decline in R & D expenditure, Lao Fengxiang's announcement to enter the field of AI glasses doesn't seem entirely pure.
Previously, Lao Fengxiang has also repeatedly tried to get closer to the young target group to rejuvenate its brand and attract young customers.
For example, in 2024, Lao Fengxiang developed products for the games "Honkai: Star Rail" and "Egg Party" together with Mihoyo and NetEase to attract young users. In January 2025, Lao Fengxiang finally opened its online store on Tmall and began to search for growth opportunities on the online channel on a large scale. Previously, only some products were sold through the online channel. In addition, Lao Fengxiang has also often cooperated with well - known IPs and sponsored sports events to achieve a breakthrough in improving its business performance.
This entry into the field of AI glasses is just an example of Lao Fengxiang's frequent cooperation and entry into other fields. However, this time it is a field with a high technological content. Given that large Internet companies are eyeing this market, it is certainly difficult for Lao Fengxiang to capture a share of the market.
However, it is not the first time that a company without a technological advantage has entered the field of AI glasses. Boshi Optical, which is called "the first stock in the AI glasses industry", has quickly established itself in the AI glasses market by offering consulting and customization services and having branches across the country. On Boshi Optical's official website, it can be seen that mainstream AI glasses brands such as Leiniao Innovation, XREAL, Jiehuan, and Li Weike can be bought in Boshi Optical's branches.
But even for a traditional glasses manufacturer like Boshi Optical, which has an annual sales revenue of over 1 billion yuan, it is not easy to establish itself in the AI glasses market. To improve the quality of offline channels and take advantage of the opportunities for the rapid growth of the intelligent glasses market, Boshi Optical plans to invest 350 million yuan in opening over 200 new branches and modernizing existing branches.
Compared with a large traditional glasses company like Boshi Optical, Lao Fengxiang's glasses business is only a supplement to its core business, the gold business. Most of Lao Fengxiang's customers come to buy gold and jewelry. It is questionable how many people really have the time and patience to be convinced by the AI glasses. Lao Fengxiang has not published any specific plans for its AI glasses business so far. So it is hard to believe that Lao Fengxiang wants to regard AI glasses as a long - term business.
If Lao Fengxiang only conducts a "technological cooperation" under the pressure of business performance, just like in its other cooperation and entry into other fields, it is likely to have no good result. Data shows that the global sales volume of AI glasses in... (The original text was incomplete here)