China Selfie App Firm Meitu Forays Into Skincare To Counter Drop In Users

www.oann.com | 3/24/2017 | Staff
liizu (Posted by) Level 3
SHANGHAI (Reuters) – Meitu Inc, the Chinese firm best known for its selfie image-enhancing app, said on Wednesday it is venturing into the offline skincare market as it attempts to offset the impact of dwindling app users and a money-losing smartphone business.

Meitu, which listed in late 2016 in what was then Hong Kong’s largest tech IPO in a decade, has since suffered losses and its share price has more than halved, as China’s smartphone market has run out of steam, shrinking nearly 16 percent in 2018.

Firm - Deal - November - Manufacturing - Smartphone

The firm announced a deal in November to outsource manufacturing of the smartphone business to Xiaomi Corp and receive brand and tech licenses in exchange.

Meitu said on Wednesday it will launch a face-cleansing brush that can automatically identify the best pulsing setting...
(Excerpt) Read more at: www.oann.com
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