Geely purchases bulk stake in struggling phone maker Meizu

Chinese cars and truck giant Geely has actually acquired a bulk stake in the now-small smart device maker Meizu. Bloomberg reports that Meizu will be run as an independent business under Xingli Innovation, another tech brand name under Geely’s umbrella. That stated, the set are anticipated to collaborate on brand-new items, and Xingli has actually currently revealed strategies to make a huge splash in the AR/VR area.

If you have actually read Engadget for enough time, you’ll have most likely seen Meizu’s early increase at the dawn of the smart device boom. Regrettably, it discovered its lunch being consumed by other Chinese upstarts, consisting of Xiaomi, and end up staying a little gamer. Back in 2015, Alibaba chose to take a stake in the business simply as it discovered itself sidetracked by numerous boondoggles, consisting of the baffling-in-retrospect choice to develop phones with Ubuntu.

Geely, on the other hand, is maybe best understood in the West as the managing owner of Volvo, Polestar and Lotus, all of which have actually been pressed towards electrification. Naturally, with cars and trucks ending up being more like phones (and phones ending up being such an essential part of the majority of cars and trucks) the concept of car manufacturers purchasing in to the phone area makes lots of sense. As Reuters reports, both the mobile and cars and truck organizations are decreasing, therefore much deeper combination may be one method to corner the market.

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This post was very first released in www.engadget.com.

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