Meitu released its first smartphone on 2013 and then

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.

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