Alibaba invests $590 million in Smartphone maker Meizu

Meizu M4

Alibaba Group announced that it will invest $590 million in Chinese the smartphone maker Meizu. According to BusinessWire, the Chinese online e-commerce giant will become a minority owner of Meizu Technology Limited. Alibaba didn’t disclose how much equity it acquired in Meizu for its investment.

With market value of $213 billion, Alibaba will surely be a welcome partner for Meizu. This new collaboration will push the two companies to work together on  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. There is already a version of Meizu MX 4 with the OS on the market.

Image Credit: Cnet
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Source: BusinessWire