Meitu was once identified for its camera-centric smartphones however determined to cease manufacturing telephones in 2019. Nevertheless, in November 2018, it signed a partnership with Xiaomi that may see each corporations co-develop smartphones. These telephones will likely be designed, developed, manufactured, marketed, and offered by Xiaomi however may have the Meitu model and have Meitu’s imaging know-how and algorithms. Just a bit over two years after this settlement was signed, the partnership has ended.
The information was revealed by Meitu’s personal CEO, Wu Xinhong, at its annual convention. He revealed that Meitu has ended its partnership with Xiaomi and has taken again its logos and licenses. He additionally acknowledged that Meitu will now not be concerned in the manufacturing and gross sales of cellphones.
The partnership between each corporations was alleged to consequence in not simply solely telephones however different Meitu-branded merchandise. Save for the Xiaomi CC9 Meitu Customized Version that was introduced in 2019, no different system was co-developed by the 2 corporations.
It was reported that Meitu-branded telephones will arrive in 2020 however that by no means occurred. We wish to consider the pandemic should have affected the plans and Xiaomi determined to focus by itself manufacturers. With no units manufactured which implies no share of the income for Meitu, unhappy as it could be, it is smart that an finish is put to the partnership which was alleged to final for 30 years.
In associated information, Meitu introduced that it generated complete income of RMB 1.194 billion, a rise of 22.1% year-on-year. It additionally revealed that 2020 was its first yr of reaching full-year profitability because it was established.
Meitu began as a software program firm, making cell apps and it nonetheless does that. Its complete month-to-month energetic customers was 261 million in December 2020. Currently, it has additionally begun to take a position in cryptocurrencies and has $90 million price of cryptocurrencies.
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