Alibaba Invests $590 Million In Chinese Smartphone Maker Meizu — techcrunch.com

Alibaba is stumping up more than half a billion dollars to kick its lacklustre mobile phone business into gear. The NYSE-listed e-commerce giant today announced a $590 million investment in Chinese phone-maker Meizu. The deal grants Alibaba an undisclosed “minority” share in the Guangdong-based company, which sold 1.5 million of its Android-based smartphones in January, but it is particularly notable for the strategic alliance between the two.

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