Alibaba invests US$590m in Meizu

By Ding Yining | February 9, 2015, Monday |

Online Edition

ALIBABA said today it has invested US$590 million in smartphone manufacturer Meizu to step up its efforts in mobile Internet sector.

The investment in Meizu marks the biggest amount of investment after the e-commerce giant completed a massive initial public offering in the US last September.

Meizu Telecom Equipment Co also received another US$60 million investment from the private equity investment branch of Haitong Securities.

Meizu has been collaborating with Alibaba's cloud computing division by using its operation system, which allows easier access to service provided by Alibaba Group and its affiliates, compared to other operation systems based on Google's Android.

"The investment in Meizu signals a major expansion plan for Alibaba in the mobile Internet sector to bring better products and services to users," chief technology officer Wang Jian said in a statement today.

Meizu last year launched its flagship model MX4 powered by Alibaba's YunOS system.

Alibaba will strengthen collaboration with Meizu in terms of data mining, mobile Internet service, e-commerce and payment.

Joining hands with Meizu would allow Alibaba to combine its Internet service with hardware facilities and to build an ecological system which is built on its core e-commerce business.

IT Alibaba Meizu

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Alibaba invests US$590m in Meizu

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