30-year plan ruined: Xiaomi broke off relations with Meitu

30-year plan ruined: Xiaomi broke off relations with Meitu

It became known this week that Meitu has ended its partnership with Xiaomi and regained its trademarks and licenses. This was announced by Meitu CEO Wu Xinhong at the annual conference.

He also stated that Meitu will no longer be involved in the production and sale of mobile phones. The partnership between the two companies was supposed to lead not only to the release of phones, but also to the emergence of other products under the Meitu brand. With the exception of the Xiaomi CC9 Meitu Custom Edition released in 2019, the companies have never created any other device.

In 2018, Xiaomi bought Meitu, a company known for its image quality enhancement technologies, whose specialists took part in the development of the Xiaomi CC9 line of smartphones. Xiaomi promised to launch Meitu-branded smartphones in 2020, but this never happened.

The pandemic affected these plans, with the result that Xiaomi decided to focus on its own brands. Interestingly, according to the original plan, the companies expected to cooperate for at least 30 years. Interestingly enough, Meitu was doing very, very well last year. The company earned more than $ 180 million in revenue – 22.1% more than a year earlier. It also turned out that 2020 was the first year since its foundation, when the company made a profit.

Meitu started out as a software company building mobile apps and continues to do so. In December 2020, the total number of active users per month was 261 million. Recently, Meitu has also started investing in cryptocurrencies.

30-year plan ruined: Xiaomi broke off relations with Meitu

Leave a Comment