Alibaba Group announced that it will invest $ 590 million in the smartphone manufacturer Meizu. The Chinese online behemoth will become a minority owner of Meizu Technology Limited.
Meizu and Alibaba “ will collaborate at both strategic and business levels to achieve a deeper integration of Meizu’s hardware and Alibaba Group’s mobile operating system.” Alibaba has its own YunOS smartphone platform, based on Android. A version of Meizu MX 4 with the OS has been available for some time now.
With market value of $ 213 billion, Alibaba will surely be a welcome partner for Meizu. The latter will help the retail giant promote its mobile OS and will benefit from its vast network of online stores and users.
Alibaba didn’t disclose how much equity it acquired in Meizu for its investment.
Source | Via