Geely-backed Xingji Technology, a company that focuses on the R&D of high-end smartphones, XR technology products and wearable smart products and ecological construction, agreed to acquire a 79.09% stake in Meizu, a smartphone brand. Financial terms were not disclosed. “It will continue to maintain an independent brand and team, and will release brand-new products next year. There is no conflict between Xingji Technology and Meizu on product planning for Xingji aims at the high-end smartphone market. With the strength of Meizu, Xingji Technology can quickly develop products, so both parties will cooperate closely. Xingji Technology will continue to invest resources in product innovations, such as XR, AR and AI,” Shen Ziyu, Xingji Technology Vice Chairman.