智通财经网·2025-12-03 06:06Core Viewpoint - ZTE Corporation's stock has dropped over 4%, currently trading at 32.4 HKD with a transaction volume of 995 million HKD, indicating market concerns regarding its product developments and execution challenges [1]. Group 1: Product Development - The nubia M153 mobile assistant technology preview version, priced at 3499 RMB, has sold out on ZTE's official store, showcasing initial consumer interest [1]. - The nubia M153 is a collaborative engineering prototype led by Doubao, focusing on AI mobile assistant product definition and experience, with ZTE's nubia handling hardware engineering and technology development [1]. Group 2: Market Analysis - Morgan Stanley's latest report highlights that despite the rich functionality ecosystem demonstrated by Doubao's version, significant execution challenges are anticipated [1]. - The report emphasizes that deep system-level integration requires modifications to the operating system, which directly impacts the core interests of mobile manufacturers (OEMs) [1]. - Major mobile manufacturers and super applications are more inclined to develop their own AI assistants rather than adopting third-party solutions like Doubao's [1].