The Chinese smartphone brand Meizu was once a major player in the market, offering alternative and sometimes more attractive options than its competitors in the flagship and mid-range market.
Meizu is Popular for Its Previous Phones like the Meizu MX4, Meizu MX5 and M Note Series
According to the story by Giz China, the new owner could bring good things to the company as it was once a strong competitor to one of the largest brands in China, Xiaomi. Although the company hasn't been as active, a new owner could potentially turn things around.
Such phones include the Meizu MX4 and MX5 and the M Note series. However, with the rise of Chinese competitors such as Xiaomi, Meizu failed to make the same splash in the global market and had to contend with reports of unreliable aftersales service.
The Company is Now Owned by Wuhan Xingji Meizu Technology Co., Ltd.
Now, it looks like the brand can try to return to the scene, as a report suggests that Wuhan Xingji Meizu Technology Co., Ltd., a holding company of Geely, as noted in the Chinese article IT Home, has become the sole shareholder and has offered a new life to the company.
As per the report, the company signed the contract with Zhuhai Meizu Tech Co. Ltd. in July of this year and held 79.09% controlling stakes in Meizu. This means that the brand can now benefit from the financial power offered by Geely, as highlighted in an article by Arena EV, and the traditional expertise Geely holds in the auto market.
Meizu CEO Huang Xiuzhang was Replaced and Also Demoted to Major Shareholder
Even more, the CEO of Meizu, Huang Xiuzhang, was demoted to the major shareholder on the same day, replaced by Shen Ziyu as the company's new chairman. Thus, Meizu is ready to start anew.
Although there is no clear indication of what plans the company has for the brand, it is expected that Geely is intent on getting Meizu's name out there and is likely investing in a comeback for the smartphone brand.
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The New Ownership Gives the Company a Breath of Fresh Air as It is Exciting to See What Will Happen
The outcome is yet to be seen, but this proposition offers hope for Meizu loyalists who believed their favorite brand just needed a new life. With Geely at its helm, this might just be the breath of life Meizu was waiting for. It is exciting to see what the new owner can do with the brand.
This much-needed transition comes at an important time for Meizu, which has endured some challenging times in recent years. With the new ownership, the company will be able to focus on long-term growth and sustainability rather than short-term gains.
The new owners understand this and have invested heavily in strategic investments and developing new products to help the company stay competitive.
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