Alibaba Is Making $590 Million Investment in Mobile
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Alibaba has agreed to invest $590 million in Chinese smartphone maker Meizu, boosting the e-commerce company’s push to get its mobile operating system on millions of handsets in China.
Asia’s largest internet company will hold a minority stake in Meizu and integrate the smartphone’s hardware with Alibaba’s YunOS software, Alibaba said in a statement Monday. Meizu, which last year released the MX4 and Meizu Blue Charm, didn’t rank among China’s top five smartphone manufacturers as of the September quarter, according to researcher Canalys.
Alibaba Group Holding is counting on YunOS to help it grow beyond selling clothes and gadgets into the entertainment and health-care fields, as it tries to capture a greater share of China’s 557 million smartphone users. With a market value of $211 billion, Alibaba has struggled to expand the software’s reach in China, where more than nine out of 10 mobile devices run Google’s Android software.
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