Exciting developments are taking place in the smartphone market. Competitors to well-established brands like Apple and Samsung are emerging every day. One of the notable entries into the market is the NIO Phone, which is set to be unveiled today, by the renowned automotive company NIO. There have been recent rumors suggesting that another famous automotive brand is also gearing up to enter the market. A formal announcement on this matter was made recently.

Is Li Auto entering the smartphone market?

Li Auto, known for its electric vehicles, has been making headlines by hiring individuals who have previously worked in the smartphone industry. This development led to speculations that the company was preparing to enter the smartphone business. However, the situation has now been clarified with an official statement.

Li Auto CEO Li Xiang stated that the company does not have plans to enter the smartphone market. Addressing the hiring of talent from the smartphone industry, Xiang noted that this was not a new development and that approximately 15% of the team members hired by the brand over the past eight years came from this sector.

The origin of these rumors can be traced back to Li Auto’s hiring of Violet Song, the former product director of iQOO, who had previously worked at Huawei. However, it appears that the company intends to utilize the skills of these individuals more for technologies related to automobiles rather than smartphones.