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Geely Chairman Eyes Phone-Making by Acquiring Meizu Tech

The MX3 Meizu smartphone from 2014.
The MX3 Meizu smartphone from 2014.Photographer: Robyn Beck/AFP/Getty Images

Li Shufu, founder and chairman of carmaker Zhejiang Geely Holding Group Co., is expanding his manufacturing empire to include smartphones and consumer electronics by acquiring a majority of shares in Android device maker Meizu Technology Co.

Founded nearly 20 years ago, Meizu was one of the pioneers of China’s fast-follower cadre of phone makers who built up their market by closely imitating the look and feel of Apple Inc.’s iPhone. Hubei Xingji Shidai Technology Co., a mobile device company founded by Li in 2021, has signed an agreement to acquire 79.09% of Meizu, according to a company statement released by Xingji Technology.