developed three series including M, V and T, with the smartphone
business revenue once accounting for 80 percent of its total revenue.
The image-editing app developer changed its strategy to social platform on 2018. By the e
nd of February, the monthly active users on Meitu platform reached 119.2 million.
According to Meitu’s financial report, its revenue from internet business increased 26.3 percent year-on-year to 947.7 million yuan ($141.31 million) in 2018, w
ith gross margin from the business surging 134.8 percent to 429.1 million yuan.
However, the firm’s revenue from smart hardware slumped 50
.7 percent year-on-year to 184.38 million yuan last year, and the
total revenue was 2.79 billion yuan, declining 37.8 percent from a year earlier.