Chinese e-commerce company Alibaba Group Holding Ltd. will invest $590 million in smartphone maker Meizu Technology Co. to get its mobile operating system on millions of handsets in China. Alibaba will hold a minority stake in Meizu and integrate the smartphone’s hardware with its YunOS software.
Alibaba believes that the YunOS software will drive its growth beyond selling clothes and gadgets into the entertainment and healthcare sectors as it tries to capture a greater share of China’s 557 million smartphone users.
“The investment in Meizu represents a significant expansion of the Alibaba Group ecosystem and an important step in our overall mobile strategy,” says Wang Jian, Alibaba’s chief technology officer. “This strategic collaboration with Alibaba Group will enable Meizu to further develop our smartphone business and smart devices ecosystem,” adds Meizu CEO Yongxiang Bai.
Beyond Trends: How Women-Led Elif’s UAE is Redefining Luxury Fashion
GMG and Frasers Group Sign 10-Year Retail Partnership to Launch Sports Direct in MENA
/ 
Lulu Retail, the GCC’s retail powerhouse, has reported a transformative FY 2024,
The Ministry of Industry and Advanced Technology (MoIAT) in cooperation with Lulu
What does it take to sustain profitable growth in the post-IPO phase?
Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in
/ 
The global sporting and athletic goods market grew from $165.28 billion in
The digital universe for retail is hyper-expansive and today it includes a
How advances in artificial intelligence (AI), cloud computing, robotics, 3D printing, internet
Hybrid shopping is the primary buying method for 27% of consumers, found
Regional e-commerce major noon.com has completed the acquisition of the online fashion
Notifications
Previous Article
