Meizu is now funded by the state: what will happen to the company

A few months ago, representatives of Meizu, which is now experiencing far from the best of times, said

that the company will become part of the state. And so it happened: the Zhuhai Municipal Fund became an investor.

How many have received

The exact amount of funding Meizu does not name,but according to preliminary information, this is 100 million yuan ($ 14.5 million). Of course, in order for the company to rise steadily to its feet, this amount is definitely not enough, but you can survive for a while.

In addition, in the next three years, Zhuhai intends to invest more than $ 10 million in the development of 5G, artificial intelligence technologies and information security.

By the way, it is not by chance that the Meizu municipality allocated money to Meizu - the company was founded in that city.

What now

Fundamental changes in the activities of Meizu afterit will not happen. Jack Wong, founder and CEO of Meizu, remains the company's largest shareholder. But Zhuhai Municipal Foundation will take a seat on the board of directors.