NIO Launches Smartphone to Boost Brand Loyalty Amid Struggling EV Sales
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NIO, the Chinese EV maker, is launching its own smartphone called the NIO Phone.
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NIO hopes the smartphone can boost brand awareness and customer loyalty.
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The smartphone market is highly competitive in China with major players like Apple, Xiaomi etc.
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NIO has struggled recently with lower deliveries, increased competition, and macroeconomic challenges.
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The NIO Phone launch aims to strengthen NIO's technology branding and ecosystem.