Alibaba Group Holding Limited will invest $590 million for a minority stake in Chinese smartphone manufacturer Meizu.
The two companies said they will work to achieve deeper levels of integration of Meizu's hardware and Alibaba Group's Aliyun mobile operating system.
Under the terms of the agreement, Alibaba Group will provide Meizu with resources and support in the fields of e-commerce, mobile Internet, mobile operating system and data analysis with the aim of developing Meizu's smartphone ecosystem.
It’s online shopping marketplaces will also become distribution channels for Meizu's smartphones and other devices.
Meizu's President Yongxiang BAI said the partnership will enable Meizu to further develop its smartphone business and smart devices ecosystem.