Geely bought Meizu: a new life for a forgotten brand?
Geely set to conquer the smartphone market
Geely, according to the ambitious plan of its founders, is ready to shake the "stagnant swamp" of the world of Android smartphones. The Chinese automotive giant has high hopes of carving out a prominent position in this densely populated niche. But one desire and money is not enough to carry out the plan. We need more experience, knowledge and technology.
And the way out was found - the absorption or acquisition of Meizu. Previously, the cooperation between the two companies was rumored, and today Geely Xingji Times officially announced the acquisition of a controlling stake in Meizu Technology. We are talking about the acquisition of 79.09% of the shares, and the amount of the transaction is not disclosed.
At this stage, the purchase of Meizu will not lead to major personnel changes in the company. Its head and key top managers will retain leadership positions. At the same time, a representative from Geely will now appear on the board of directors of Meizu and it is not difficult to understand that his voice will be decisive in making decisions.
Interestingly, it is stated that Meizu will continue as an independent brand and will work closely with Geely on software development and "integration of consumer electronics and automobiles." At this stage, the automotive brand is developing a portfolio of smartphones, wearable electronics and smart gadgets, and will also emphasize the use of augmented reality technology. Recall that last fall, Geely announced plans to release its first smartphone in 2023 and sell 3 million of its units.