Core Viewpoint - The controversy surrounding the sale of a Coolpad phone by influencer "Gazi Ge" has raised significant public skepticism about the brand's authenticity and product quality, highlighting the company's struggles in the competitive smartphone market and its shift towards cryptocurrency for growth [1][2][3][4]. Group 1: Incident Overview - Influencer "Anti-Fraud Lao Chen" publicly questioned the authenticity of a Coolpad phone sold in Gazi Ge's livestream for 699 yuan, prompting widespread attention [5]. - Coolpad's official response confirmed the phone as genuine, but delays and confusion regarding product availability and pricing have led to ongoing public doubts [2][12]. - Gazi Ge defended the product's authenticity, accusing Anti-Fraud Lao Chen of seeking attention [7][10]. Group 2: Business Performance - Coolpad's smartphone business has been in decline since 2015, with revenues dropping from 146.68 billion HKD in 2015 to just 3.07 million HKD in 2023, despite a slight recovery in 2024 [21][27]. - The company reported a significant loss of 2.52 billion HKD in 2024, even as revenue increased to 4.99 million HKD, largely due to the expansion of its cryptocurrency business [27][29]. - The smartphone segment's revenue has drastically decreased from 12.77 billion HKD in 2019 to 1.81 billion HKD in 2023, indicating a severe decline in market presence [32]. Group 3: Historical Context - Once a leading player in the Chinese smartphone market, Coolpad was part of the "Chinese Cool Alliance" alongside Huawei, ZTE, and Lenovo, reaching a market share of 23.1% in 2014 [33][34]. - The company faced significant challenges after 2014 due to policy changes and market shifts, leading to a drastic increase in inventory and subsequent financial struggles [38][39]. - Following ownership changes and attempts to revitalize the brand, Coolpad's efforts to regain market position have proven difficult, with ongoing challenges in product, personnel, and channel management [41][44].

Core Viewpoint - The controversy surrounding actor Xie Mengwei, known for his role as "Gazi Ge," has arisen due to allegations of selling a non-existent Coolpad phone model during his live stream, raising questions about product authenticity and brand integrity [1][4]. Group 1: Product Authenticity and Brand Response - "Anti-fraud Lao Chen" questioned the authenticity of the Coolpad phone model sold by Xie Mengwei, stating that it could not be found on the official Coolpad website [1]. - Following the allegations, Coolpad's official customer service confirmed that the X60 phone is indeed a legitimate product of the brand, and it is being gradually listed on various platforms [6]. - Despite the controversy, Coolpad's official flagship store on Douyin has listed the "Coolpad X60" phone at a price of 799 yuan, with 13 units sold [4]. Group 2: Background on Coolpad - Coolpad, established over 20 years ago, was once one of the top four domestic mobile phone brands in China, known as "Zhonghua Kualian" [7]. - The company was founded in 1993 by Guo Deying and initially focused on pager and signal base station technology before transitioning to mobile phones in 2000 [7]. - Coolpad successfully went public on the Hong Kong Stock Exchange in December 2004, marking a significant milestone in its development [7].