On July 4, Geely’s Xingji Times announced the official acquisition of Meizu. The company, which has acquired a majority stake in the brand, also shared other interesting future plans with the announcement.
Currently, Xingji Times has a controlling stake of 79.09 percent in Meizu Technology. After the acquisition, the top management of the Chinese smartphone maker will remain largely the same. However, Shen Xiu, vice chairman of Xingji Times, will now also serve as chairman of Meizu Technology. On the other hand, Huang Shipan is still the CEO of the brand. Notably, the acquisition is in line with our earlier report that Geely plans to buy a stake in the smartphone maker.
Huang joined the company in 2004 and has held various key positions related to supply chain, overseas business and others. Although Xingji has been acquired by Times, both parties have agreed to see it as a strategic investment and Meizu will still operate as an independent brand. Thus, top management remains untouched and remains stable, while Huang Zhang will be a strategic consultant for the brands’ products.
The new chairman, Shen Xiu, has revealed that he will retain the brand and retain an independent team. Shen Xiu added that the company is also planning to launch a new flagship smartphone next year. However, no other great information has been shared regarding this topic.