ZTE’s Smartphone Brand Red Magic to Explore Metaverse Field
On Thursday, Yu Hang, Senior Vice President of Nubia Technology Co., Ltd., a subsidiary of ZTE, said in an interview with the The Paper that a professional technology team was set up within the company in the third quarter of last year to focus on the hardware technology for the metaverse.
Founded in 1985, ZTE is listed on both the Hong Kong and Shenzhen Stock Exchanges. ZTE’s terminal business has three major brands: ZTE, Nubia and Red Magic. Ni Fei, Senior Vice President of ZTE and President of ZTE Terminal Division, said that the company is positioned as a pioneer brand while Nubia is more suitable for the younger generation and Red Magic is designed for game enthusiasts.
In 2021, ZTE shipped more than 100 million units, year-on-year increase of 150%, of which 50% made use of independently developed chips. Its CPE (customer front-end equipment) ranks first in the world in market share. Last year, the shipments of the company’s home appliances increased by 52% year-on-year, and cumulative shipments reached 580 million units.
The Red Magic brand will now explore building up assets for the metaverse. In 2022, ZTE will also release the number of devices under the brand this year, including new smartphones and its own VR headset.
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“We are developing engine algorithms, motion capture, picture recognition, and other core technologies that we hope can be put into use through mobile phones. Each has its own set of very complex calculations,” said Yu Hang.