Meizu was once one of the popular smartphone brands in the Chinese market. For some, it was even seen as a direct rival to Xiaomi the flagship and mid-range market. We can even make reference to the Meizu M Note series against Xiaomi’s Redmi Note series.
However, while Xiaomi and other Chinese brands are now out of the home country to conquer the global scene, Meizu’s history was different. It didn’t make much buzz outside of China and had many problems including poor aftersales service. Now, a new report suggests that Meizu has a new owner after its founder sold his shares.
According to the new report, Wuhan Xingji Meizu Technology Co., Ltd., a holding company of Geely, became the sole shareholder of the brand. The company’s founder Huang Xiuzhang, Telling Communication Holdings Co., Ltd, Zhuhai Honghua New Kinetic Energy Equity Investment Fund, and a lot of other former shareholders withdrew their shares.
The brand’s market entity type was changed from “other limited liability companies” to “limited liability companies”. As per the report, Hubei Xingji Times Tech Co., Ltd. signed a contract with Zhuhai Meizu Tech Co. Ltd. in July of this year. Now, the company holds a total of 79.09% controlling stakes in Meizu.
Huang Xiuzhang was demoted to the position of major shareholder on the same day. Shen Ziyu now stands as the new chairman of the company.
To those unaware Geely is a traditional name in the auto market of China. It was the first automaker to consolidate the name of the local market. The exact plans for the brand under Geely’s administration are unclear. However, we don’t expect Geely to get Meizu’s name just because yes. There’s a definite certainty that Geely has plans for Meizu, and a comeback to the smartphone market with more offers is in the cards.
Via (Chinese)
