#geely meizu

Chinese carmaker Zhejiang Geely Holding Group is reportedly in talks to purchase smartphone maker Meizu Technology, allowing the former to expand into the smartphone business. Last year, Geely has launched a new company called Hubei Xingji Shidai Technology Co. The acquisition of Meizu will certainly bring in talents and other resources like R&D to bolster the business. Geely has now completed its acquisition of Chinese phone maker Meizu, allowing the former to expand its smartphone ventures. Ltd., Geely's own smartphone department had acquired a majority stake from two shareholders in Meizu amounting to 79%. The Zheijang Geely Holding Group owns various car brands such as Geely, Volvo, Polestar, and Lotus. Geely had created Hubei Xinji Shidai Technology as a separate entity dedicated to smartphones with Geely already investing around USD 1.5 billion before acquiring Meizu. Reuters reports that Geely had pointed out the close connection between vehicle cockpits and smartphone software. Read more in our articles including "Geely reportedly in talks to purchase Meizu" and "Geely completes acquisition of phone maker Meizu".