Quibi Shuts Down After Six Months as Huawei Mate 40 Launch Approaches
The short-form streaming service Quibi officially closes its doors just 198 days after launching, leaving behind millions in unspent capital. Meanwhile, the tech world shifts its focus to the upcoming Huawei Mate 40 reveal and other industry updates.
Quibi officially shuts down after just 198 days of operation, marking a sudden end to a venture that raises around $1.8 billion. The short-form mobile streaming platform blames its failure on a combination of weak premise and poor timing due to the global pandemic. Although the service leaves behind approximately $350 million, executives admit they are unable to overcome the unprecedented challenges that other businesses manage to navigate successfully.
The tech industry is also closely watching Huawei as the company prepares to unveil its Mate 40 lineup. Anticipation builds as consumers look forward to seeing the new hardware and features despite ongoing trade restrictions. Additionally, Indian smartphone shipments hit a record high in the third quarter of 2020, showing a strong market recovery following earlier pandemic lockdowns.
Other notable developments include Apple accidentally revealing Qualcomm's upcoming 5G modem roadmap and naming conventions. Google is also testing ultrasound technology to activate Google Assistant on smart displays without the need for a "Hey Google" voice prompt. Furthermore, former Apple design chief Jony Ive takes on a new role, bringing his renowned design expertise to Airbnb.