Huawei cuts starting price of new flagship Mate 80 series
Huawei Technologies Co. Ltd. has reduced the price of its latest flagship smartphone series, a strategic recalibration aimed at rekindling momentum after a slowdown in domestic smartphone shipments. At a product launch on Tuesday, the Chinese tech giant introduced its new premium Mate 80 series, starting at 4,699 yuan ($661), along with the foldable Mate X7 priced from 12,999 yuan. The entry-level Mate 80 is 800 yuan cheaper than its predecessor, even as memory component prices have surged over the past year. Sales begin Nov. 28 for the Mate 80 and Dec. 5 for the Mate X7.
Alibaba Q3 revenue beats market expectations
Alibaba Group Holding Ltd. topped analysts’ revenue forecasts for the September quarter, but saw profits plummet as the e-commerce titan poured billions into its burgeoning instant retail operations — an aggressive bid to stave off mounting competition. For the three months ended Sept. 30, Alibaba reported revenue of 247.8 billion yuan, up 5% from a year earlier and ahead of market expectations, the company said Tuesday. But its non-GAAP net profit fell 72% to 10.4 billion yuan, sharply missing consensus estimates. Adjusted EBITA — an internal measure of operating performance — slid 78% to 9.1 billion yuan.
Pony AI expects robotaxi fleet to exceed 3,000 by 2026
Pony AI Inc. on Tuesday reported third-quarter revenue of 181 million yuan, a 72% increase year-on-year, with robotaxi revenue jumping 89.5% to 47.7 million yuan. The autonomous driving company stated its current robotaxi fleet totals 961 vehicles and projected the fleet size will triple to over 3,000 by the end of 2026.
China launches first ‘emergency’ space mission
China successfully launched the unmanned Shenzhou-22 spacecraft Tuesday, marking the country’s first emergency space mission as it rushed repair equipment to its orbiting space station to fix a damaged window on a docked vessel. The Long March-2F Y22 carrier rocket blasted off from the Jiuquan Satellite Launch Center at 12:11 p.m. About 10 minutes later, the spacecraft separated from the rocket and entered its designated orbit. The detailed mission plan calls for the spacecraft to execute an autonomous fast-rendezvous and docking with the space station combination.
U.K. minister seeks stable tech ties with China despite security stance
Patrick Vallance, the U.K. minister responsible for science, research and innovation, told Caixin that scientific research needs consistent, long-range support and cannot succeed if priorities are reset every six months or year. This is why the U.K. aims to maintain a steady framework for U.K.-China cooperation so joint work can produce lasting value. However, he noted that the U.K. would not compromise its values or national security in pursuing stable collaboration.
HP to Cut Up to 6,000 Jobs by 2028
HP Inc. on Tuesday released its financial results for the fourth fiscal quarter ended Oct. 31, showing a 4.2% increase in sales to $14.6 billion. The company announced plans to cut 4,000 to 6,000 jobs by fiscal 2028 as it utilizes more AI tools to improve efficiency, a move expected to save $1 billion annually.
