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.”

Alibaba king of Chinese online retail market

Alibaba already controls a huge section of the Chinese online retail market, raking in an unprecedented $5.75 billion in online sales on November 11th, the equivalent of America’s Cyber...