Jungjiricha, Enters Premium Smartphone Market
[Asia Economy Reporter Yujin Cho] Geely Holding, the parent company of Chinese automaker Geely Automobile, is entering the smartphone business for the first time.
According to major foreign media on the 28th (local time), Geely Automobile announced in a press release that it aims to launch its first smartphone in 2023 and is entering the smartphone market.
To this end, Geely Holding's founder, Li Shufu, established Hubei Xingji Sudai Technology and signed a strategic cooperation agreement with the Wuhan Economic and Technological Development Zone.
Geely Automobile stated, "We will focus on integrating technology and resources to develop premium smartphones and other smart devices headquartered in Wuhan for the global market."
Geely Automobile explained that the smartphone business will complement its automobile business but did not disclose specific plans such as the product lineup or launch schedule.
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U.S. economic media CNBC reported that Geely Automobile will compete with Apple, Samsung, and Xiaomi in the fiercely competitive premium smartphone market.
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