Alibaba expands into Meizu
Print Edition
ALIBABA said it has invested US$590 million in domestic smartphone manufacturer Meizu as it continues to boost its presence in mobile Internet.
The injection in Meizu marked the biggest investment amount after the e-commerce giant completed a massive initial public offering in the US last September.
“The investment in Meizu signals a major expansion plan for Alibaba in the mobile Internet sector to bring better product and services to users,” Alibaba Chief Technology Officer Wang Jian said in a statement yesterday.
Meizu said the funds would be used in the research and development of smartphones and other relevant services.
Alibaba will strengthen collaboration with Meizu in data mining, mobile Internet services, e-commerce and payment.
Guangdong-based Meizu Telecom Equipment Co also received US$60 million from the private equity investment arm of Haitong Securities.
Meizu has been working with Alibaba’s cloud computing division by using its operating system that allows easier access to services provided by Alibaba Group and its affiliates, compared with Google’s Android operating system.
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