Coolpad recently issued a profit warning and expects revenue of about HK $206 million in 2022, down about 69 per cent from HK $665 million the previous year.

The loss attributable to the company's owners is expected to be between HK $610 million and HK $640 million, an increase of 6.64 per cent and 11.89 per cent compared with the loss of HK $572 million in the same period last year.

As for the reasons for the sharp decline in performance, Coolpad explained in the announcement thatDue to the downturn in the mobile phone market and fierce competition, the company's sales of mobile phones launched in the middle of the year fell short of expectations, so it adopted a more aggressive sales incentive policy.

Coolpad shipped only 195600 Chinese mainland smartphones in the first half of 2022, up from 126300 for the whole of 2021, according to financial data. But compared with the shipments of tens of millions of units shipped by competitors such as Xiaomi, OPPO and vivo in the same period, it is basically not worth mentioning.

Chen Jiajun, chairman and CEO of Coolpad, once said in a group interview that it seemed completely impractical to let Coolpad return to the first echelon of domestic mobile phone brands within three years.

Throughout 2022, Coolpad released only one new COOL 20s, plus its COOL 20 Pro in December 2021.It all depends on two products to dominate the world, and it is very weak in the mobile phone circle that is now rushing sales with the tactics of the machine sea.

It is reported that Coolpad COOL 20s is equipped with Tianji 700 7nm chip to support 5G dual-card dual standby, 1080p FHD+ full HD screen support 90Hz high-definition brush, 50 million pixel HD camera, built-in 4500 Ma battery, support 18W fast charge, price from 999 yuan.