Alibaba Invests $364 Million In Haier Group
Alibaba is investing $364 million in Haier Electronics Group Co., Ltd. (HKG:1169) (OTCMKTS:HRELF), an electronics manufacturer that is already building smartphones using Alibaba’s Aliyun OS, reports Jon Russell at The Next Web. According to Haier, the deal will “fully leverage Haier Group’s operational experience and Alibaba’s e-commerce, data and information capabilities to create a fast and convenient end-to-end e-commerce and logistics experience for consumers.”
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