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Investor's Crypto Daily > Blog > Headlines > Financial Market News > Tesla is launching a new phone?
Financial Market News

Tesla is launching a new phone?

Last updated: October 21, 2024 5:24 pm
By Shelly Davidson 4 Min Read
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Tesla has not made an official announcement since 2021.

Contents
Musk’s statement on June 2024November 2023 hintThe Analyst’s PerspectiveTesla launch speculation fuelled by security concerns

A YouTube video concept sparked widespread online discussion about the possibility of a Tesla phone.

Elon Musk has repeatedly denied the rumours, even in a livestream from June 2024.

Analysts believe that a Tesla smartphone could become reality in the future, as it is a logical step forward for Tesla’s ecosystem of connected devices.

The debate is fueled by the gap between official pronouncements and market forecasts.

Musk’s statement on June 2024

Elon Musk addressed speculations about the Tesla Smartphone in a June 2024 livestream.

The CEO said, “We will not be doing a Tesla Phone.” He had previously dismissed rumours of a similar nature.

The statement did not end the speculation despite his position being clear, as analysts and Tesla enthusiasts still see potential for a Tesla smartphone.

November 2023 hint

Musk suggested that an alternative phone would be available after Tesla acquired Twitter (now X), in November 2023. This was in response to fears about possible app restrictions.

Musk clarified later that Tesla has no plans at this time to create a smartphone.

The back and forth communication between the two parties has fueled ongoing discussions about the future of the company in the smartphone industry.

The Analyst’s Perspective

Morgan Stanley analysts are among those who, despite Musk’s denials of the possibility, see a Tesla phone as an important strategic step.

The argument is that the Tesla phone would enhance user experience if it integrated seamlessly with Tesla connected car features.

Existing smartphone apps allow Tesla drivers to remotely unlock their cars and operate them. A Tesla-branded product could provide an even better experience.

The concept has been kept alive by this possibility in the market analysis despite Tesla’s lack of concrete plans.

Tesla launch speculation fuelled by security concerns

Elon Musk’s comments regarding security concerns about the integration of X and OpenAI’s ChatGPT has added to speculation.

Several observers think that Tesla phones could solve these problems by providing a safer platform. This is especially important as the privacy of data becomes more and more critical to technology companies.

Musk may not have committed to the development of such a device but he’s suggested the idea wasn’t completely off the table. This leaves room for interpretation.

Tesla phones are still a speculative product.

Musk has consistently denied the possibility of a Tesla Model 3 in 2023 or 2024, but the opinions and discussions that are ongoing amongst tech enthusiasts and analysts suggest the concept is not completely dead.

Tesla’s ecosystem is expected to expand in future, but the gap between what the company says and what the market expects highlights that interest.

Tesla Phone is still an Idea, not a Product.

The post Tesla to launch a smartphone now? The ICD first published this post Is Tesla launching a phone now?

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