Automaker Geely will buy Meizu and continue to produce smartphones

Geely Automobile Holdings Limited, one of the largest Chinese automakers, intends to buy Meizu.

What is known

The Chinese edition of 36Krypton reports this, citing its own sources. Geely plans to continue to produce smartphones, and the first model could be released as early as 2023. Phones will most likely be produced at Foxocon factories.

According to 36Krypton, talks to buy Meizu are in full swing. At the same time, Geely announced plans to enter the smartphone market back in 2021. Then she created a subsidiary of Hubei Xinji Shidai Technology, in which she invested more than $1.5 billion (¥10 billion). The cost of purchasing Meizu is not included in this amount.

Recall that Meizu has been experiencing problems for a long time. The company is still trying to release new products in China, but it is almost not represented on the international stage. The manufacturer sells only 1 million phones annually. A few years ago, sales volumes were at the level of 20 million models.

A source: 36Krypton