Alibaba Invests $590 Million In Chinese Smartphone Maker Meizu

TechCrunch

Alibaba is stumping up more than half a billion dollars to kick its lacklustre mobile phone business into gear. The NYSE-listed e-commerce giant today announced a $590 million investment in Chinese phone-maker Meizu.

The deal grants Alibaba an undisclosed “minority” share in the Guangdong-based company, which sold 1.5 million of its Android-based smartphones in January, but it is particularly notable for the strategic alliance between the two.

Meizu, which operates a Xiaomi-like online sales model but is yet to break into China’s top five smartphone companies based on sales, will integrate its hardware with Alibaba’s struggling operating system. Aliyun is the business unit behind Alibaba’s Yun OS, which is based on Android and used for smartphones and smart TV sets.

“Alibaba Group will provide Meizu with resources and support in the fields of e-commerce, mobile Internet, mobile operating system and data analysis with the aim of developing Meizu’s smartphone ecosystem,” the company said in an announcement…

View original post 375 more words

Advertisements
This entry was posted in Brian By Experience. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s