Meizu and Geely Respond to the Meizu Acquisition Rumor

Meizu and Geely Respond to the Meizu acquisition rumor. According to the 36Kr report, Geely Group’s cell phone firm is contacting cell phone producer “Meizu” to debate acquisition issues. In this regard, Meizu responded to thank you for your concern about Meizu Technology.

Geely Holdings responded that Geely wouldn’t touch upon market rumors. The high-end cell phone analysis and growth enterprise of Xingji Times are progressing orderly, and we hope to create an open and built-in ecological partnership.

Meizu and Geely Respond to the Meizu Acquisition Rumor

According to reviews, individuals near the deal stated that the agreement remains in progress, and due diligence is performed. Since the transaction has not closed for the acquisition worth, the worth isn’t apparent.

Meizu and Geely Respond: In September 2021, Geely Group established Hubei Xingji Times Technology Co., Ltd. to develop cell phones, focusing on the high-end cell phone market. According to Tianyancha, Geely Group (Ningbo Co., Ltd.) is the first-generation shareholder of Xingji Times, holding 32% of the shares; Li Shufu, chairman of Geely Holding Group, owns 6.1% of the claims. The Tianyancha App reveals that Hubei Xingji Times Technology Co., Ltd. has utilized for four logos, together with “comer,” “large portable screen,” “UPON,” and “UPUPHONE.” Substantive evaluation.

Meizu’s shipments are comparatively low within the home cell phone market, rating within the “other” class. In February 2021, Meizu launched an inside letter displaying that Meizu CEO had changed into Huang Zhipan and former Meizu CEO Huang Zhang had stepped down.

Meizu and Geely Respond to the Meizu Acquisition Rumor

Meizu and Geely Respond: Huang Zhipan is Huang Zhang’s youthful brother. Huang Zhipan stated in an inside letter that in 2020, Meizu Technology achieved “turning losses into profits” and accomplished the annual efficiency targets promised to the corporate’s board of administrators.

In March of the identical yr, Meizu launched the flagship Meizu 18 and Meizu 18professional, outfitted with Snapdragon 888 processor and LPDDR5 and UFS3.1; the primary digital camera makes use of a 50-megapixel Samsung digital camera and can be equipped with a 6.2-inch AMOLED display screen, beginning worth 4399 yuan.

Meizu and Geely Respond: The price mentioned that this cell phone uses the “three zeros” technique of “no ads, no pre-installation, and no push” because of the advertising and marketing focus. However, after greater than five months, Meizu Technology’s official Weibo deleted “30 mobile phones” content material. At the same time, the official website didn’t have “30 mobile phones” within the product descriptions of the Flyme 9, Meizu 18, and Meizu 18Professional fashions. “related information.

In January 2022, Meizu released a new mobile phone, the Blu 10. The “Meizu” model returned after a lapse of 4 years. The new product begins at 699 yuan, and the best configuration worth is 899 yuan.

Source: Blue Whale Finance

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