Alibaba Group Holding Limited and Meizu Corporation Limited have announced that Alibaba Group will invest US $590 million for a minority stake in Meizu which is one of China’s leading smartphone manufacturers. The deal will see the businesses achieve deeper integration of Meizu’s hardware and Alibaba Group’s mobile operating system,.
“The investment in Meizu represents a significant expansion of the Alibaba Group ecosystem and an important step in our overall mobile strategy as we strive to bring users a wider array of mobile offerings and experiences,” said Jian Wang chief technology officer of Alibaba Group.
At the end of 2014 China had more than one billion mobile phone users and about 40 per cent of them use smartphones, according to IDC.
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