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China Auto Maker Geely Ventures Into Smartphones

HONG KONG—While smartphone makers are venturing into creating the subsequent era of good electrical automobiles, one in all China’s greatest auto makers goes in opposition to the tide by making a foray into the smartphone market.

A subsidiary of Zhejiang Geely Holding Group stated Monday it accomplished the acquisition of a 79% stake in lesser-known Chinese smartphone maker Meizu Technology Co. No quantity for the deal was disclosed.

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