Alibaba Invests $590M In Smartphone Maker Meizu

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Chinese e-commerce giant Alibaba Group Holding Limited says it has agreed to invest US$590 million for a minority stake in Zhuhai city, Guangzhou province-based Chinese smartphone maker Meizu Technology Corporation Limited, according to a company announcement.

In December 2014, media reports surfaced that Meizu has received RMB2 billion (US$320 million) of financing cumulatively from an undisclosed financial investor.

China Money Network

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