Chinese automaker Geely launches a high-end smartphone business

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• Chinese automaker Geely Holding is jumping into the smartphone business after its founder set up a new company.
  
• The company will be headquartered in Wuhan and will focus on “integrating global technologies and resources to develop premium smart devices including smart phones to global consumers.”
  
• Geely is entering a cut-throat market and could face off against the likes of Apple, Samsung and Xiaomi in the premium smartphone category.
  

GUANGZHOU, China — Chinese automaker Geely Holding is jumping into the smartphone business after its founder set up a new company.

Hubei Xingji Shidai Technology Co. Ltd, founded by Eric Li, signed a strategic cooperation agreement with Wuhan Economic and and Technological Development Zone, to make mobile phones, according to Geely.

The company will be headquartered in Wuhan and will focus on “integrating global technologies and resources to develop premium smart devices including smart phones to global consumers,” Geely said in a press release.

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