The Chinese car giant bought a majority stake in the small phone company. According to the report, Meizu will be run by an independent company called Xingli Technology, which is part of the Geely group. It is expected that the pair will work together on new products, and that Xingli will make a big splash in the space.
If you've been reading for a while, you'll know that Meizu's early rise at the dawn of the smartphone boom is what you'll see. It was eaten by other Chinese upstarts and ended up being a small player in the game. The decision to take a stake in the company was made back in 2015, just as it was distracted by other things.
In the West, the controlling owner of Volvo, Polestar and Lotus has been pushed towards electric vehicles. With cars becoming more like phones, the idea of automakers buying in to the phone space makes a lot of sense. The mobile and car businesses are slowing down, and so deeper integration may be one way to corner the market.
All Rights Reserved © 2024
