Xingji Times, a joint venture company owned by Geely's founder, is reported to be joining the smartphone arena in 2021. They then reportedly will buy Meizu to launch its own smartphone in the next 2023. We also reported that Xingji Times will take over Meizu’s stake of up to 79%.
Yesterday, the acquisition was already official and Meizu is now owned by Geely. Their stake is 79.09% with Zhen Ziyu who is the vice chairman of Xingji Times will be the chairman to Meizu. But Huang Zhipan will remain CEO for Meizu.
In their agreement, although the majority of Meizu's holdings are owned by Xingji Times - Meizu will still operate as usual as a stand -alone brand. With this collaboration, they have officially confirmed that in 2023 it will come with its own flagship device.
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BUSINESS & MONEY