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BusinessAutomotive Giant Geely Reportedly Acquires Smartphone Firm Meizu

Automotive Giant Geely Reportedly Acquires Smartphone Firm Meizu

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News emerged on Thursday that smartphone brand Meizu has been acquired by Chinese automotive giant Geely. Meizu officials have so far declined to comment on the reports.

In late September, 2021, Geely officially announced that it would start developing smartphones, positioning its products at the high-end market. Li Shufu, the founder and chairman of the company, personally took the lead by founding Xingji Times Technology Co., Ltd. According to Li’s vision, smartphones can create rich consumption scenarios together with car networking and satellite internet, so as to provide users with a more convenient, intelligent, interconnected, multi-screen and interactive experience.

As early as January this year, there were market rumors that Geely’s smartphone company was in contact with Meizu to discuss a potential acquisition. Wang Yong, the legal representative, director and general manager of Xingji Times Technology, was responsible for the discussions. Geely officials responded at that time that it would not comment on market rumors. At present, the R&D of high-end smartphones by Xingji Times Technology is progressing in an orderly manner, hoping to build an open and integrated ecosystem.

In April, Chinese commercial inquiry platform Tianyancha showed that Xingji Times Technology’s two smartphone appearance patents had been authorized. This is the first patent exposed after Geely announced ambitions of developing mobile phones. On Tuesday, a patent related to AR glasses applied for by Xingji Times Technology was also granted, and the key point of the product’s design lies in its shape.

Meizu has also achieved progress in innovative technologies for vehicles. It has been developing the “Flyme For Car” system, applying for a number of patents for improving the safety of children, repelling mosquitoes automatically in cars, and monitoring items in cars.

SourcePandaily
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