The Chinese auto giant Geely, which owns such world-famous brands as Lotus, Volvo and Polestar, plans to enter the mobile market and start manufacturing smartphones. And the Meizu company, which is going through hard times now, will help him in this.
According to sources from the Chinese portal 36Krypton, Geely is considering buying the Chinese smartphone maker Meizu, which has been around for almost 20 years. Now the auto company is conducting a comprehensive review of Meizu’s business, and if everything goes according to plan, the first Geely smartphones will be released as early as 2023. They will most likely be assembled by Taiwanese contract manufacturer Foxconn, known primarily as Apple’s main contractor and the main iPhone manufacturer. But Geely will carry out the entire development process on its own, which explains the purchase of Meizu.
By the way, Geely has been eyeing the mobile market for a long time and even created a separate subsidiary company Xingji Times dedicated to this direction. The auto giant has already invested nearly 10 billion yuan, or about $1.5 billion, in the new venture and has enlisted experienced executives from ZTE, Xiaomi and OPPO to help Geely enter a new market, the source said.
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