Automotive firm Geely completes Meizu acquisition!
To recall, Chinese automotive maker Geely announced that it has invested CNY 10 billion (around PHP 78.9B). Now, we learned that the acquisition is completed.
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| Geely now officially owns Meizu |
Geely completes purchase of Meizu
This means that Geely now has Meizu's resources to help the company enter the smartphone market. Geely also has a new company called Hubei Xingji Shidai Technology with the goal to develop smartphones and other smart gadgets for the global audience.
It was also reported last January that the company is planning to launch its very first smartphone in 2023.
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| Smarter Geely cars soon? |
Apart from smartphones, Meizu also has Flyme For Car systems with a number of patents owned. This could help Geely make its future smart cars even better.
To those who do not know, Meizu is one of the more popular China-based smartphone makers a few years back. However, the company has not been doing too well in recent years. From its peak of shipping 20 million units several years ago, the company is now shipping just under 1 million units per year.
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