博士眼鏡：成為雷鳥V3全國線下體驗門店，關注渠道價值激活

雷鳥發佈AI眼鏡V3

雷鳥V3有著輕巧的身板和時髦的框架設計; 39g的重量讓佩戴毫無壓力; 不僅可以做近視鏡，還可以充當具有炫酷時尚感的墨鏡。

V3搭載1200萬像傳感器，提供4k分辨率照片拍攝，背照式CMOS帶來更高光效率; 4K超清拍攝，0.8秒光速抓拍，9分鐘超長錄製時間。支援1080P橫向和1440P豎向拍攝。

此外，定製AI模型打開上帝視角; 阿里通義千問定製全新意圖識別模型，全景式智慧搜索，覆蓋海量知識領域，能夠提供使用者精準解答。

據博士眼鏡官微，博士作為雷鳥V3全國唯一線下體驗門店，將在超過100家眼鏡旗艦店提供產品體驗、專業驗光、個人化配鏡和完善售後服務。

同時，在博士眼鏡購買雷鳥V3主機，還可享受配鏡全場鏡片7折優惠，無論是否購買，都可以尋找就近上線門店先體驗。

此前，雷鳥創新與博士眼鏡成立合資公司

24年8月，據雷鳥創新官微，公司與博士眼鏡合作，成立一家合資公司; 其是業內首個科技企業與專業眼鏡驗配終端聯合投資的公司。雙方將共同開展新一代AI眼鏡的研發設計、銷售、營銷與服務等工作。早在 2022 年，雙方就成立了聯合實驗室，此後博士眼鏡更是參投雷鳥創新首輪融資。

雷鳥創新作為中國第一、全球領先AR品牌，在AI和智能眼鏡整機方面均有著深厚的技術積累，且擁有得天獨厚的TCL軟硬體開發能力和全球化商業能力支援。博士眼鏡作為國內眼鏡零售行業的首家上市公司，堅守在專業視光領域，並擁有廣泛的渠道資源和專業的配鏡服務，是用户購買光學眼鏡首選。

本輪博士眼鏡作為核心渠道，有望重新定義線下場景，或推動產業變革

1）博士與雷鳥合作基礎深厚。雷鳥作為目前AI/AR眼鏡主要參與者之一，博士率先深度綁定。本次作為雷鳥V3全國唯一線下體驗門店，或直接激活線下門店客流及關注，帶動相關眼鏡及鏡片銷售; 未來作為重要線下渠道，有望持續受益AI/AR眼鏡產業增量市場及需求紅利。

2）線下眼鏡店場景價值深度激活。不同於其他消費電子標準化/易交付等，眼鏡品類兩大痛點：

1、驗配，目前我國近視人群近7億，購買眼鏡基本均涉及鏡片驗配; 我們預計該流程平均耗時0.5-1小時且難以線上完成;

2、妝飾，眼鏡作為外在佩戴物品，天然存在妝飾體驗美觀等訴求; 線下可直接佩戴感受且難以線上完成。

綜上，我們認為線下眼鏡門店未來是AI/AR眼鏡銷售推廣的重要且難以替代的核心管道，早期物理卡位特別是品牌合作有望重構核心競爭要素。

3）我國線下眼鏡門店競爭或較為分散。我們認為未來有望借助AI/AR眼鏡產業機遇加速市場集中度提升; 大量夫妻店難以承接頭部AI/AR品牌的合作契機，頭部連鎖化眼鏡店借機完成降維流量打擊。

We think physical eyewear stores could be a potentially irreplaceable channel to promote and sell AR glasses. And we expect early positioning and brand tie-ups will shape the key competitive traits. In this light, Doctorglasses is in a sweet spot. We maintain our BUY call.

The gist: BUY

· RayNeo rolls out lightweight V3 smart glasses running on a customized LLM

· A partnership that started with co-running a joint laboratory in 2022

· Physical eyewear stores a key channel that could redefine market scenarios 

RayNeo rolls out V3 smart glasses that run on a customized LLM

Freshly unveiled at CES 2025 in early January, the TCL RayNeo V3 smart glasses offer fashionable appeal at a lightweight 39g for wearable comfort, while correcting myopia and doubling as sunglasses. We pick out the key details:

Basic specs: a 12MP sensor to capture content in 4K resolution with backlit CMOS for higher light efficiency, 4K ultra-high-definition image capture, 0.8-second light-speed capture and 9-minute ultra-long recording time. The device also supports 1080P horizontal and 1440P vertical videos.

How smart? The V3 is powered by a customized large language model developed in collaboration with Alibaba’s Tongyi Qianwen LLM. The new intent recognition model enables panoramic smart search covering a vast range of topics to provide users with accurate answers.

Doctorglasses V3 experience stores: Doctorglasses is the only store chain in China offering a RayNeo V3 physical experience across its more than 100 flagship stores, according to the company’s Weibo site. The company’s professionals are on hand to facilitate the experience, conduct eyesight testing, fit personalized smart glasses, including a complete after-sales service. Customers purchasing the RayNeo V3 at Doctorglasses get a 30% discount on the lenses; further, no purchase is necessary in order to check out the V3 experience at the stores.

A partnership that started with co-running a joint laboratory in 2022

Collaboration story: the RayNeo Weibo site says it established a JV with Doctorglasses in August 2024, the first such that ties together a tech company and professional optometry and eyewear-fitting end-market player. RayNeo and Doctorglasses jointly conduct R&D, design, sales, marketing and services for their new-generation AI glasses. Their collaboration had started in 2022 when they set up a joint laboratory, after which Doctorglasses participated in RayNeo’s first round of financing.

RayNeo’s role: RayNeo has amassed deep knowhow in AI and smart glasses as China’s first augmented reality (AR) brand and a global market leader. It benefits from TCL’s software and hardware development capabilities, and global business resources. 

Doctorglasses’ role: as China’s first listed company in the eyewear retail space, Doctorglasses’ roots are in professional eyewear retail. It is the go-to retailer for those who want to buy prescription glasses on the strength of its extensive channel resources and range of eyewear fitting services.

A key channel that could redefine physical scenarios and transform the industry

Synergistic expertise: RayNeo, a key player in AI and AR glasses, took the lead in establishing a strong tie-up with Doctorglasses in synergy. And Doctorglasses offers the only physical store experience for RayNeo V3 in China, so it can directly influence physical store footfall and market awareness, and drive sales of such glasses and lenses. This key physical market channel provides potential benefits from the incremental market as well as the demand dividend from the AI and AR glasses industry.

A physical experience: the V3 could stimulate and greatly raise the value of physical eyewear stores. Unlike most consumer electronic devices that are standardized and easier to deliver, the eyewear segment suffers two major pain points:

· Fittings: China has nearly 700m myopic people and prescription glass purchases typically involve lens fittings. We estimate the process takes 0.5-1 hour on average and is difficult to replicate online.

· Aesthetics: wearing prescription glasses affect one’s external appearance and demand levels correlate with aesthetic factors. This is experienced directly in the physical market but would be difficult to achieve online.

Hence, we believe that physical eyewear stores will be a key and irreplaceable core channel to push sales and promotions for AI and AR glasses in the future. We expect early positioning and brand tie-ups in particular will shape the key competitive factors.

Fragmented market: the competitive landscape of physical eyewear stores in China could become more fragmented. We believe market players will leverage opportunities in AI and AR glasses to increase market concentration in the future. Many small shops, being hard put to fit the cooperation requirements of AI and AR brand leaders, could fall by the wayside as leading eyewear chain stores take the opportunity to maximize footfall.