In recent years,the development of satellite Internet constellations dominated by LEO satellites is accelerated in the world. As one of the key applications of satellite Internet,the Satellite-Direct-to-Smartphone has gradually expanded the application scenarios of satellite Internet from vertical industries to the field of mass consumption,which has become the hot spot of current development. The link budget analysis is the technical foundation for LEO Satellite-Direct-to-Smartphone applications. By calculating the entire link,application requirements and system capabilities can be mutually inferred. This article introduces the current development status and three mainstream technical routes of Satellite-Direct-to-Smartphone systems at home and abroad,analyzes the link budget of LEO Satellite-Direct-to-Smartphone systems.Through theoretical calculations,it is concluded that the focus of future research on Satellite-Direct-to-Smartphone systems is to improve the gain of satellite receiving antennas. It is recommended to study phased array antennas and multi-beam forming technologies.