Geely acquires Chinese smartphone maker Meizu paultan.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from paultan.org Daily Mail and Mail on Sunday newspapers.
Li Shufu, founder of China's largest private carmaker Geely, is acquiring a 79.01 percent stake in domestic smartphone maker Meizu as vehicles he described two decades ago as "sofas on wheels" are becoming smart devices on roads.
Geely’s smartphone subsidiary bought 79 per cent of Meizu from its founder and Alibaba’s Taobao China in a bid to bolster the carmaker’s connected ecosystem amid new competition from tech firms.