Meizu on the brink of exiting the smartphone market — release of new models canceled, staff layoffs and department restructuring planned

The Chinese smartphone manufacturer Meizu, once a serious competitor to Xiaomi and OPPO, is at the center of rumors about the complete closure of its mobile device business. According to reports from Chinese social networks and industry sources, the division responsible for smartphone development may be closed — along with mass layoffs and the cancellation of new models.

Flagships won't be released, employees at risk

According to unofficial information, the team working on the new Meizu 23 lineup will not present devices this year — the project is effectively halted at the preparation stage.

Posts from anonymous employees on the internal Maimai platform indicate the possible closure of the entire “phone” part of the company and significant reductions in the corresponding divisions. It is reported that remaining workers will be offered compensation under the “N+1” scheme, and those holding company shares will discuss their options with the management.

Restructuring and new directions

Sources note that some developments, particularly projects not directly related to smartphones, will continue to develop within the structure controlled by the automotive concern Geely, which became the main shareholder of Meizu in 2022. For example, the Flyme Auto system for automotive head units will be separated into a distinct division and integrated into the Geely ecosystem.

What this means for the market

Meizu has existed since 2003 and has been producing smartphones for many years. However, in recent years, sales have declined, and competition in China and globally has intensified. The shutdown of Meizu's smartphone direction may be another indicator that even well-known players cannot withstand the pressure in the saturated mobile device market.

Source: Gizmochina