Meizu, a once-popular smartphone brand known for its midrange and budget devices, has announced a significant change in its business strategy. The company has made the decision to stop manufacturing smartphones and instead pivot its focus towards AI development. This move comes as Meizu struggled to compete in the highly competitive smartphone market against companies like Xiaomi and Huawei.
Back in 2007, Meizu entered the smartphone industry with its debut device, the Meizu M8. With its strikingly similar design to the iPhone, the M8 gained popularity and was selling well in the consumer market until Apple sued Meizu over design patent infringement. This setback forced Meizu to halt the production of its first smartphone.
The company then ventured into the Android market, releasing successful devices like the Meizu M9 and later developing a range of midrange and budget phones. However, despite its efforts, Meizu faced tough competition from other smartphone manufacturers, particularly in the budget segment. The company struggled to establish a unique identity in an overcrowded market, leading to declining sales and the closure of several stores.
In July 2022, Meizu was acquired by Chinese automaker Geely, which saw an opportunity for Meizu to function as an independent smartphone brand while supporting Geely’s plans to create smart cars. Meizu even had plans to develop a smartphone for Geely’s subsidiary, Polestar. However, the latest announcement from Meizu reveals that the company has decided to shut down its smartphone business entirely.
Meizu’s new focus on AI development aligns with the changing dynamics of the smartphone industry. With customers holding onto their phones for longer periods and a lack of true innovation, Meizu believes that an AI-first approach will have a more substantial impact on society. The company is expected to launch its first AI-focused hardware product by the end of 2024.
While Meizu’s departure from the smartphone market may disappoint some fans, the company’s extensive experience in consumer markets could prove valuable in its AI endeavors. As Meizu shifts its attention to AI development, it remains to be seen what innovative products and solutions the company will bring to the table in the coming years.
Meizu FAQ
1. What is Meizu’s new business strategy?
Meizu has decided to stop manufacturing smartphones and instead focus on AI development.
2. Why did Meizu make this decision?
Meizu struggled to compete in the highly competitive smartphone market against companies like Xiaomi and Huawei.
3. When did Meizu enter the smartphone industry?
Meizu entered the smartphone industry in 2007 with its debut device, the Meizu M8.
4. Why did Meizu halt the production of its first smartphone?
Meizu had to halt the production of its first smartphone, the Meizu M8, as it was sued by Apple over design patent infringement.
5. What other successful devices did Meizu release?
Meizu released successful devices like the Meizu M9 before venturing into midrange and budget phones.
6. What challenges did Meizu face in the smartphone market?
Meizu faced tough competition from other smartphone manufacturers, especially in the budget segment, leading to declining sales and store closures.
7. Who acquired Meizu in July 2022?
Chinese automaker Geely acquired Meizu in July 2022.
8. What were Geely’s plans for Meizu?
Geely saw an opportunity for Meizu to function as an independent smartphone brand while supporting Geely’s plans to create smart cars. Meizu also had plans to develop a smartphone for Geely’s subsidiary, Polestar.
9. What is Meizu’s new focus in AI development aligned with?
Meizu’s new focus on AI development aligns with the changing dynamics of the smartphone industry, where customers hold onto their phones for longer periods and true innovation is lacking.
10. When is Meizu expected to launch its first AI-focused hardware product?
Meizu is expected to launch its first AI-focused hardware product by the end of 2024.
Key Terms:
– Meizu: A smartphone brand that has announced a change in business strategy to focus on AI development.
– AI (Artificial Intelligence): The simulation of human intelligence in machines that are programmed to think and learn like humans.
– Geely: A Chinese automaker that acquired Meizu in July 2022.
– Xiaomi: A Chinese smartphone manufacturer and competitor to Meizu.
– Huawei: A Chinese smartphone manufacturer and competitor to Meizu.
Related Links:
– Meizu Official Website
– Xiaomi Official Website
– Huawei Official Website
The source of the article is from the blog smartphonemagazine.nl