Founder of auto giant Geely buys Meizu as smartphone demand weakens

Remember Meizu, the once-promising competitor to Xiaomi? The Alibaba-backed Chinese smartphone maker is making a comeback — in a way — as it gets acquired by the founder of Geely, China’s largest private automaker and Volvo’s parent company. China’s smartphone industry is notoriously competitive. Founded in 2003, Meizu has been making affordable, trendy Android-based smartphones […]

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