Beijing (Gasgoo) – Geely Holding has reportedly acquired Chinese smartphone company Meizu and entered the final stage of deals, several local media outlets reported on May 6.
According to the press, neither Meizu nor Geely answered the question.
How Earlier reported by Gasgoo, rumors of an acquisition first surfaced in January this year. At the time, Geely told the media that they had “no comment on the rumors.” The research business for mobile phones has evolved in an orderly manner and they hoped to build an open and integrated ecosystem.
On the other hand, Meizu thanked the local media for their concerns with the company.
In addition, Hubei Xingji Shidai Technology Co., Ltd., a subsidiary of Geely, has received two patent licenses related to smartphones, according to Qichacha’s corporate database.
These patent pictures showed the approximate appearance of Geely smartphones. It was also the first information disclosed to the public since Lee Shufu, founder and chairman of Geely, announced his foray into the mobile phone business.
Apart from product development, Xingji Shidai also raises capital. In December 2021, the company completed a strategic round of investments involving the Geely Group (Ningbo), Ningbo Boma with the support of ECARX and Wuhan Economic Development Investment. Later in January, Wuhan Jingkai Xingji Investment Fund Partnership was added as one of the company’s shareholders, which increased its share capital by 10% to 715 million yuan ($ 107 million).