Meizu had a major restructuring early this year resulting in the company having three main divisions. The three divisions are:
Meizu, Blue Charm and Flyme.
Rumor has it that Meizu may be planning on making Blue Charm an independent sub-brand just like Huawei’s Honor. Following this info is the recent sighting of a new logo for Blue Charm on Weibo.

The new logo is like a blue wavy line with the words Blue Charm written next to it in Chinese. There have been complaints regarding the lack of creativity associated with the design and some folks made a few mock-ups which in my own opinion are terrible too.
The Blue Charm series are Meizu’s line of affordable smartphones and includes the M series. If the split occurs, the main Meizu line will focus on other Meizu products including the PRO series flagships.