【Industry Check Update】OpenAI appears to be fast-tracking its first AI agent phone, with mass production targeted as early as 1H27. Potential drivers include supporting a year-end IPO narrative and intensifying competition in AI agent phones. MediaTek currently appears better positioned to become the sole processor supplier, with the device set to use a customized version of the Dimensity 9600, built on TSMC’s N2P node in 2H26. The ISP is the headline spec, with an enhanced HDR pipeline improving real-world visual sensing. Other key specs include a dual-NPU architecture for heterogeneous AI compute, LPDDR6 + UFS 5.0 to ease memory bottlenecks, and pKVM + inline hashing for security. If development stays on track, combined 2027–2028 shipments could reach around 30 million units.