A smartphone transmits a live stream of the news conference of Meitu Inc in Hong Kong, China August 21, 2018. REUTERS/Bobby Yip
SHANGHAI: Meitu Inc, the Chinese firm best known for its selfie image-enhancing app, said on April 17 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% in 2018.
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