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

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

that the company will partially become state-owned. And so it happened: the Zhuhai Municipal Fund became the investor.

How many have received

Meizu does not name the exact amount of funding.but, according to preliminary information, it is 100 million yuan ($14.5 million). Of course, this amount is definitely not enough for the company to confidently get back on its feet, but it is possible to stay afloat for some time.

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

By the way, it was not without reason that the Zhuhai municipality allocated money to Meizu - the company was founded in that city.

What now

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