Meitu is focusing on software development, moving away from the smartphone market (at a loss)
Meitu focuses on individual developers and companies and does so with a new platform presented at a recent AI conference in Hefei, Anhui province. The Chinese company’s move is in line with the commercial strategy adopted in recent years which aims to focus on software development and to move away from a smartphone business, which is at a loss.
In Meitu’s new strategy, the services will be aimed at cosmetic retailers, a sector with which Meitu has collaborated in the past, as well as companies and internet services.
Software services will be offered in three main formats
As you can read directly on the official website of the platform, the algorithm and software services will be offered in three main formats: as on-demand software through Web application programming interfaces (API); software development kit for mobile devices (SDK) with offline and real-time functionality; and customized solutions for customers who may not have “technical skills”.
Wan Pengfei, director of MT Lab., Said: “The launch of the Meitu AI Open Platform is indicative of the wider effort of the company to monetize its main areas of technological expertise, which include machine vision, in-depth learning and computer graphics “.
Meitu will become an app for social platforms
The company announced in August that it intended to turn Meitu, its flagship photo app, into a social platform. In its latest financial report, the company revealed that the platform had reached a new high of 119 million MAUs in February 2019, compared to 90.7 million in June.
The announcement of the AI platform comes not long after Meitu said it would hand over the smartphone business to phone maker Xiaomi. The sector was previously an important factor in the company’s losses, which reached RMB 1.2 billion in 2018.
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