Geely, which includes brands that have made a name for themselves in the automotive industry such as Volvo and Lotus, will produce smartphones. One of the biggest reasons why the company, which includes many automobile brands, entered this sector is that it wants to customize its interior systems.
In addition, the company has already announced its ambitious sales figure. It seems that we will watch an automotive giant join this caravan, especially when there are too many smartphone manufacturers in the Chinese market.
Geely plans to launch a smartphone in 2023
Things may get even hotter when Geely joins the already highly competitive Chinese market. According to the company’s chairman, Eric Li, Geely’s new subsidiary will produce phones, not cars. In the market target, which is called the premium segment, 3 million sales are targeted in the first year.
Selling 3 million phones is a big target for a company that is inexperienced in the smartphone industry. But Geely already has a web of trust. If they offer high-end features at a good price, they can hold on to the Chinese market.
The secondary aim of the company is to customize the in-car systems of automobile brands. Automobile companies, including Volvo, outsource their in-car systems to other companies. This means that the company spends more money than its own production.
We wonder how an automotive giant will perform in a market it has no previous experience with. There is still a long time to 2023, and we are wondering what kind of development process the company will follow.
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