Beijing, June 14 (SocialNews.XYZ) Chinese carmaker Geely has acquired Meizu, the Alibaba Group-backed smartphone maker, as the automaker plans to bolster its connected ecosystem.
Hubei Xingji Shidai Technology, a venture by Geely founder Li Shufu, has bought a 79.09 per cent stake in Meizu, South China Morning Post reported on Tuesday.
Meizu's market share has since fallen to just 0.1 per cent in China.
"Mobile phones and devices have quickly evolved into mobile terminals and application platforms, which not only allow users to enjoy the fruits of innovation in the quickest manner possible, they also act as a pathway to greater automotive applications," Geely said in a statement.
"The major trend in the coming future is to create user ecosystems across borders and provide users with a more convenient, smarter, and seamlessly connected multi-screen experiences," it added.
Founded in 2007, Meizu was once one of the most popular smartphone brands in mainland China.
It lost out to rivals like Xiaomi, which is now working on its own electric car.
Meizu's partnership with Sony to bring Flyme apps to Xperia phones didn't do well either for the smartphone maker.
One of the brands owned by Geely recently launched 'Zeekr 001' which featured the Flyme for Car infotainment system developed by Meizu.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz