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Post by The Ultimate Nullifier on Feb 11, 2015 9:21:23 GMT -6
variety.com/2015/biz/news/chinas-alibaba-makes-590-million-smart-phone-buy-1201430210/Alibaba, the giant Chinese e-commerce and entertainment group, has spent $590 million to buy a minority stake in smartphone manufacturer Meizu. Alibaba already operates its own mobile device operating system, YunOS, and says the acquisition will help it deepen integration of its software. Alibaba will also sell Meizu phones on its marketplace websites. The giant company has entertainment interests that range from movie theater ticket sales, through to its own set-top boxes for TV reception. It also has stakes in online video platform Youku Tudou and Internet broadcaster Wasu Media and controls a majority of Alibaba Pictures Group. “The investment in Meizu represents a significant expansion of the Alibaba Group ecosystem and an important step in our overall mobile strategy as we strive to bring users a wider array of mobile offerings and experiences,” said Alibaba Group chief technology officer Wang Jian in a statement. At the end of 2014, China had more than 400 million smartphone users.
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