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Barclays stated that they were conservative on the outlook of smartphones in China in 2015 owing to intensive competition among brands. It is predicted that the shipments of China smart phones will increase 18% yearly to 472 million units next year.

In terms of the non-Apple supply chain in Asia, the broker was positive on BYD ELECTRONIC (00285.HK)  +0.020 (+0.216%)    Short selling $74.31K; Ratio 0.350%   since Samsung will use metal cases for smartphones in 2014 and 2015. The increasing penetration of metal casing in China is beneficial for the pricing and profit margin of BYD Electronics. The rating was Overweight and the target price was $12.

Barclays stated that the year-on-year operating revenue for the next iPhone cycle will be limited since the vigorous sales growth of iPhone 6 has largely been priced in for the entire sector.

In addition, Barclays preferred SUNNY OPTICAL (02382.HK)  +0.220 (+1.667%)    Short selling $4.47M; Ratio 4.255%   with strong positioning in non-smartphone business and strong multi-year prospects. The rating of Sunny Optical was Overweight and the target price was $15.

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