China Auto Maker Geely Ventures Into Smartphones

HONG KONG—While smartphone makers are venturing into developing the next generation of smart electric vehicles, one of China’s biggest auto makers is going against the tide by making a foray into the smartphone market.

A subsidiary of Zhejiang Geely Holding Group said Monday it completed the acquisition of a 79% stake in lesser-known Chinese smartphone maker Meizu Technology Co. No amount for the deal was disclosed.