Geely said to acquire local handphone maker Meizu

Beijing (Gasgoo)- After announcing its foray into the smartphone field, China’s automaker Geely is reportedly planning to acquire local smartphone company, Meizu, on January 21st. 

Photo credit: Geely

Geely Holding gave “no comment” on the matter when asked by a local media outlet, Cailian Press. Meanwhile, Meizu also responded “thanks for asking” to another local media, Sina Tech.  

Earlier today, Geely’s smartphone subsidiary is said to make contact with smartphone maker Meizu regarding a possible acquisition. Multiple sources close to the matter said that the deal is in process, with the companies doing their due diligence. Additionally, according to the sources, the settlement of the acquisition is currently undecided, with the deal unfinished. 

Actually, the rumor of Geely and Meizu’s relationship is somewhat credible. On September 28th, 2021, Geely’s founder and chairman, Li Shufu officially announced his forayto the handphone industry, and signed a strategic agreement with Wuhan Economic and Technological Development Zone. The carmaker's smartphone business eyes the global market. 

When the announcement broke, Li Nan, the founder of Meizu's sub-brand Meilan, commented that communication and interaction integrate the two industries, as automakers and phone makers are no longer strangers. 

Notably, Geely's smartphone business is believed to be Li Shufu's personal endeavor, and the business mogul is facilitating his technology ecosystem. Currently, aside from car making, Geely's operations cover mobility service, semiconductors, satellites, aerospace, and more.  

Additionally, Geely also plans on entering the smart wearables industry.