Stock Track | ZTE Plummets 6.70% Intraday as ByteDance Introduces AI Voice Control Tool on Its Handset

Stock Track12-02

ZTE's stock (HKG:00763) plummeted 6.70% during intraday trading on Tuesday, reflecting investor reaction to the latest development involving the company.

The decline followed news that ByteDance will introduce its artificial intelligence voice control tool on a ZTE smartphone before rolling it out to other devices. The tool, powered by ByteDance's Doubao large language model, will initially pilot on ZTE's Nubia M153 handset. This announcement appears to have unsettled investors, leading to the sharp drop in ZTE's share price.

Market professionals noted that the partnership, while innovative, may have raised concerns about ZTE's competitive positioning or the financial implications of the collaboration.

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