Rumours that Alibaba would be investing in Meizu have been confirmed true today with Alibaba agreeing to buy a minor stake in the phone maker for $590 million.
Meizu have had a stellar past few months. First they launched the Meizu MX4, then the MX4 Pro and later the Meilan m1 note and m1 phones. Fantastic launches along with exciting partnerships with Haier have really turned Meizu’s fortunes around, and speaking of fortunes news just keeps getting better!
Gizchina News of the week
Today Meizu and Alibaba have confirmed that rumours of investment are actually true. Alibaba, the company behind Aliexpress, Taobao, and Alipay will buy a micro share of Meizu for $590 million!
It’s big news for Meizu who will be able to use the money to invest is more products, updates, and services for it’s customers around the world:
[ Meizu News ]
It would be even better now if Meizu is going to sell their products through alieexpress without the markup fee, this could be happening. I am seeing more Chinese brands selling their products directly on alieexpress.
What the hell is a micro share? A small share you mean. Btw any numbers on the valuation?
I wondered that, if it’s <10% and worth $590 million, then what the hell is Meizu worth??
The press release just says a minor share, no figures have been given.
Hopefully make BETTER CHEAPER phones for Int’l customers!
I still believe it is important to have distribution and service centers in key markets. That anyday works out cheaper due to bulk imports. Also, a service center presence provides peace of mind to customers while making their purchase.