In July last year, Xingji Technology—a mobile devices company founded by Geely Chairman Eric Li—purchased a majority stake in handset brand Meizu.
Now, according to a report by IT Home, Geely has become the sole owner of the smartphone brand after the former’s shareholders—including founder Jack Wong—have all withdrawn their shares. This means Hubei Xingji Shidai Technology—a mobile-focused venture founded by Geely founder Li Shifu—has controlling stake of the Chinese consumer electronics company.
In September, Xingji Technology announced that it will launch a consumer mobile phone that can be directly connected to low earth orbit (LEO) satellites. The phone will support 5G, LEO satellite communication, and near-field communication (NFC) to achieve global coverage.
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