The Geely automaker from the Middle Kingdom is at the stage of negotiations on the purchase of Meizu. Many reputable publications talk about this, citing insiders close to one of the companies.
The two companies are currently negotiating terms of the sale, with the buyer, Geely, conducting due diligence on the smartphone business, the sources said.
Detailed details about the transaction are not called, including the full amount of the purchase. However, some analysts recalled the words of the founder of Geely about the desire to invest in the production of smart devices, namely smartphones. Then Li Shufu planned to invest about 1.5 billion dollars in this area.
However, the details of the deal are still under wraps as well as Geely's motives. Considering that things are not going well for the once-big player in the market in the face of Meizu, then perhaps Lee decided to revive the brand by breathing new life into it. There is a possibility that Meizu's technologies will somehow overlap with Geely's core business.