Huawei Disappoints Viewers by not Discussing Mate 60 Phones at Product Launch

Richard Yu, CEO of Huawei Consumer Business Group, is seen on a screen during the livestreaming of a Huawei launch event at a Huawei flagship store in Beijing, China September 25, 2023. REUTERS/Florence Lo
Richard Yu, CEO of Huawei Consumer Business Group, is seen on a screen during the livestreaming of a Huawei launch event at a Huawei flagship store in Beijing, China September 25, 2023. REUTERS/Florence Lo
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Huawei Disappoints Viewers by not Discussing Mate 60 Phones at Product Launch

Richard Yu, CEO of Huawei Consumer Business Group, is seen on a screen during the livestreaming of a Huawei launch event at a Huawei flagship store in Beijing, China September 25, 2023. REUTERS/Florence Lo
Richard Yu, CEO of Huawei Consumer Business Group, is seen on a screen during the livestreaming of a Huawei launch event at a Huawei flagship store in Beijing, China September 25, 2023. REUTERS/Florence Lo

Huawei Technologies on Monday showcased a series of new products from a gold smartwatch to a smart car but disappointed viewers by not revealing more details about its new Mate 60 smartphone series, prompting an outpouring of complaints online.

The event, held in a stadium and watched by millions online, was expected to see Huawei break its silence on the smartphone, which has been hailed by Chinese state media as a sign the firm had overcome US sanctions that since 2019 has cut its access to advanced chipmaking tools and crippled its smartphone unit, Reuters reported.

The smartphone was launched without any fanfare last month during US Commerce Secretary Gina Raimondo's visit to China. Some users and analysts who bought the Mate 60 Pro say it uses a Chinese-made chip and is capable of 5G speeds.

Huawei has so far not commented on the full capabilities of the Mate 60 series, which is seen as its first major effort since the sanctions to challenge Apple's dominance in the smartphone market.

Yu Chengdong, CEO of Huawei's consumer business group, however, did nod to the smartphone in his opening remarks when he gave a "special thanks to the whole nation for their tremendous support, especially since the (Mate 60 Pro) Pioneer Program was launched".

As Yu spoke, members of the audience chanted "far, far ahead" - a phrase that has gone viral on Chinese social media since the Mate 60 Pro's launch as a take on Huawei's competitiveness.

"Our products have been well-received and trusted by everyone after hitting the market. We are working overtime urgently to manufacture more so that more people can buy our products," Yu said.

But as the two hour-long event progressed, commentators on the livestream began asking when Yu would talk about Mate 60 as he presented a series of new products ranging from a tablet product to a ultra, high-end brand called 'Ultimate Design'.

By Monday afternoon, after the event ended, the topic "Huawei's press conference did not mention smartphones" began trending on the Weibo social media platform and was among the top ten most read hashtags with more than 8 million views.

"Why didn't they talk about it? Everyone watched it because of the smartphone," one Weibo user Maniler said.

The event ended with a group of people on stage waving Mate 60 smartphones with flashlights switched on, as they sang "Glorious Years", a Cantopop hit by Hong Kong rock band Beyond whose lyrics speak to the struggles Nelson Mandela faced in South Africa.

Another Weibo user said such an ending, combined with the lack of discussion of the smartphone, left him baffled.

"What kind of move is this?" he said.

Huawei did not immediately respond to a request for comment on its decision to not discuss the Mate 60 Pro during the event and on the social media reaction.



US Supreme Court Tosses Case Involving Securities Fraud Suit against Facebook

A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
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US Supreme Court Tosses Case Involving Securities Fraud Suit against Facebook

A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)

The US Supreme Court sidestepped on Friday a decision on whether to allow shareholders to proceed with a securities fraud lawsuit accusing Meta's Facebook of misleading investors about the misuse of the social media platform's user data.
The justices, who heard arguments in the case on Nov. 6, dismissed Facebook's appeal of a lower court's ruling that had allowed a 2018 class action led by Amalgamated Bank to proceed. The Supreme Court opted not resolve the underlying legal dispute, determining that the case should not have been taken up. Its action leaves the lower court's decision in place, Reuters reported. 
The court's dismissal came in a one-line order that provided no explanation. The Facebook dispute was one of two cases to come before the Supreme Court this month involving the right of private litigants to hold companies to account for alleged securities fraud. The other one, involving the artificial intelligence chipmaker Nvidia, was argued on Nov. 13. The Supreme Court has not ruled yet in the Nvidia case.
The plaintiffs in the Facebook case claimed the company unlawfully withheld information from investors about a 2015 data breach involving British political consulting firm Cambridge Analytica that affected more than 30 million Facebook users. They accused Facebook of misleading investors in violation of the Securities Exchange Act, a 1934 federal law that requires publicly traded companies to disclose their business risks. Facebook's stock fell following 2018 media reports that Cambridge Analytica had used improperly harvested Facebook user data in connection with Donald Trump's successful US presidential campaign in 2016. The investors have sought unspecified monetary damages in part to recoup the lost value of the Facebook stock they held.
At issue was whether Facebook broke the law when it failed to detail the prior data breach in subsequent business-risk disclosures, and instead portrayed the risk of such incidents as purely hypothetical.
Facebook argued that it was not required to reveal that its warned-of risk had already materialized because "a reasonable investor" would understand risk disclosures to be forward-looking statements. President Joe Biden's administration supported the shareholders in the case.
US District Judge Edward Davila dismissed the lawsuit but the San Francisco-based 9th US Circuit Court of Appeals revived it.
The Cambridge Analytica data breach prompted US government investigations into Facebook's privacy practices, various lawsuits and a US congressional hearing. The US Securities and Exchange Commission in 2019 brought an enforcement action against Facebook over the matter, which the company settled for $100 million. Facebook paid a separate $5 billion penalty to the US Federal Trade Commission over the issue.
The Supreme Court in prior rulings has limited the authority of the Securities and Exchange Commission, the federal agency that polices securities fraud.