Chinese automobile giant Geely rolled up its sleeves to enter the smartphone industry. The organization, which owns important brands such as Lotus, Volvo and Polestar, started the countdown to enter a different competition. According to some allegations, the company has already made its plan to enter the sector.
Geely, who wanted to start business by buying a company that exists in the market, set his sights on Meizu. The automotive giant wants to buy the smartphone manufacturer.
Geely wants to buy Meizu
Attracting attention with its price performance products for a period of time, Meizu is quite stagnant these days. The company, which could not reach its former popularity, was also quite behind in the competition. Geely, which has been following the sector for a long time, also wants to continue its investments by purchasing Meizu. Planning a purchase according to the first information, the automotive giant plans to launch its own smartphones in 2023.
Geely, which is known to follow the smartphone market and also created a fund called Xingji Times, agreed with important names on this issue as well. The company has recruited key executives from the market leaders Oppo, Xiaomi and ZTE. According to the allegations, the company has made an investment of 1.5 billion dollars, without buying Meizu yet.
Geely Holding Group Chairman Li Shufu talked about the importance of the smartphone industry in the past and gave the signals that they can make a breakthrough in this direction. It was learned that the company, which appeared to be looking for a partner in this regard, is close to an agreement with Foxconn. Considering cooperation for R&D studies, the duo want to exist in the smartphone industry.
However, the Meizu front ships close to 1 million units of smartphones annually. The company, which has reached 20 million figures in the past, is also looking for its old days. Meizu, having difficulty in impressing the customers in the market, can find the energy to stand up again with Geely. Although the allegations are serious, there was no statement from the spokespersons of the companies mentioned. Let’s see if Geely will be able to enter the smartphone industry at the end of the day.
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