Meitu filters are even pity to end Xiaomi Lei Jun
Xiaomi will develop, manufacture and sell devices, and Meitu will be responsible for image processing algorithms. The Chinese coach did not pay a penny, but agreed to share profits. The agreement ends for 30 years. In the first five years, Meitu will receive 10% of the revenue when selling devices under its brand. The first step can expire earlier if the amount of payments reaches a specific mark (but does not indicate which). The remainder of the Xiaomi period will deduct a proportion of each unit sold, but not less than $ 10 million guaranteed per annum. For other "smart" gadgets, Meitu relies 15% of the sales profits.
Today, most Xiaomi mobile phone buyers are male. Meitu focuses on the beautiful half of mankind, and company partnerships should help to eliminate the prejudice. Indeed, with all the merits of the Meitu application in the five years of the existence of the brand, sales of self-smart phones were only 3.5 million units.
This will be the fourth brand of smart phones in the Xiaomi pigs bank. As well as the main line, the company has two Shark gaming machines, and the Little debut model, the Pocophone F1, offers the lowest performance at the lowest price.
What about funding?
Compared to last year, Xiaomi revenue increased in the third quarter 49% to 50.85 billion yuan ($ 7.32 billion). The net profit at the same time was 2.48 billion yuan ($ 357.23 million), surpassing the expectations of experts. Celebrate separate achievements in Europe and India.
Mobile business revenues increased at least 36.1%. The services showed an impressive increase of 85.5%, but their contribution to total revenue was only 9.3%. The proportion of smart phones is 64.6%, so it's too early for Xiaomi to call himself an Internet company.
In the middle of the Chinese stock market and the slowdown in the economy, Xiaomi shares have dropped 20% since their IPO in summer. Today, a Chinese maker capitalization is around $ 54 billion.
Sources: Reuters, MyDrivers.com