Geely responded to the rumors of the acquisition of Meizu: no comment, the investigation showed that Geely has set up a mobile phone project company

According to media reports, Geely Group's mobile phone company is negotiating with mobile phone manufacturer Meizu touch on the acquisition. Several people close to the deal said: "The deal is still ongoing and DD (due diligence) is being done. "In terms of the purchase price, the price is not clear as the transaction has not yet been closed. In this regard, Meizu officially replied: "Thank you for your concern for Meizu."

Geely Holdings officially responded that it would not comment on market rumors, and that the high-end mobile phone research and development business of the interstellar era is progressing in an orderly manner, hoping to create an open and integrated ecological partnership.

According to media reports, Geely wants to build mobile phones is a fact, Geely Holding Group Chairman Li Shufu once said that it will invest 10 billion yuan in the field of mobile phones. According to the enterprise inspection APP, in September 2021, Hubei Xingji Times Technology Co., Ltd. was established to position the field of high-end mobile phones. Geely Group (Ningbo) Co., Ltd. is the majority shareholder, holding 32.3077% of the shares, Li Shufu holds 6.1538% of the shares, and serves as the chairman of the company. Wang Yong was appointed CEO of Xingji Times, it is reported that he was the vice president of ZTE, and after leaving ZTE, Wang Yong also joined ASUS as deputy general manager of China.

Meizu affiliated company is Zhuhai Meizu Technology Co., Ltd., Meizu Technology (MEIZU) was founded by Huang Zhang in 2003. Relying on the design and development of elegant, simple and easy-to-use intelligent devices and systems, the company is committed to creating an open and win-win mobile Internet ecology. According to the official website, Huang Xiuzhang (Huang Zhang) proposed network communication and fan culture, creating a precedent for domestic mobile phone manufacturers, and Huang Zhang was called "China's Jobs". Meizu was first established mainly engaged in MP3 business, and in 2007, Huang Zhang gave up the MP3 market, which had already occupied a leading position, and invested in the entrepreneurial tide of smart phones. Meizu's first mobile phone is Meizu M8, it is reported that Meizu M8 sales exceeded 500 million in the past 5 months. According to the enterprise investigation APP, Meizu had received investment from Alibaba and Haitong Kaiyuan in 2015, with a financing amount of 650 million US dollars, and then in 2016, it received nearly 200 million yuan of investment from Institutions such as Youcai Investment, Tianyin Holdings, and Jianying Youcai Investment. Since then, Meizu has no news of financing.

It is worth mentioning that in recent years, in the fierce competition in the domestic mobile phone market, Meizu sales have been declining. According to IDC data, in the fourth quarter of 2018, China's smartphone market sold 398 million units, while Meizu only sold 4.05 million units, accounting for only 1% of the market share, down 79% year-on-year.