Alibaba has invested $590m in a small and little-known domestic smartphone maker, the acquisitive ecommerce group’s latest salvo to extend its reach into mobile internet.
The unspecified minority stake in Meizu marks the first time Alibaba has invested directly in a smartphone company but is in line with the group’s strategy to challenge rival Tencent in mobile.
While the foray into smartphones echoes that of US peer Amazon with the Fire phone, Alibaba is more intent on pushing YunOS to give its seldom-used operating system a wider foothold on mobile screens.
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