Geely founder launches smartphone venture

Market advantage: People look at a Geely vehicle at a car dealership in Shanghai. Geely’s brand recognition in China could give it a leg up in the premium smartphone market. — Reuters

SHANGHAI: Chinese automaker Zhejiang Geely Holding said its founder, Eric Li, has launched a new company to make smartphones, entering the highly competitive handset sector as cars increasingly become connected devices.

The move is another foray beyond autos for the owner of Volvo, and marks a reverse of a recent wave of consumer hardware firms venturing into the manufacturing of vehicles.