Meitu recently unveiled its newest smartphone model, M4, an appealing product expected to help the company expand its 980-million subscriber base.
The M4 is the sixth phone released by Meitu. Since its first venture on the smartphone market in 2013, the company has experienced a growing share and gained numerous subscribers.
Around 70 percent of Meitu's consumers are females. The company demographics also show that 60 percent of its subscribers are born after 1985 and 20 percent after 1995.
The technology firm has also released a viral app enhancing beautiful portraits, further securing its wide market share. During the launch held on April 8, it also revealed the latest version of its mobile application.
On the press conference, Meitu furthermore debuted a game console as well as an assistant exposure light specifically intended for taking selfies or self-portraits.
These products, just like the M4 smartphone, are regarded as offshoots of the company's phenomenal mobile app, according to CEO Wu Xinhong.
The technological innovations of the company are mainly done by its 100-member research and development team, which was established to answer the firm's fast-expanding subscriber base.
The R&D team comprises one-fifth of Meitu's total workforce. The group is currently developing other hardware products that aim to bring breakthrough sales performance to the company.
Meitu's most recent round of fundraising increased its market value to $2 billion. This is according to the Shanghai's National Business Daily.
The report also showed that the second-generation Meitu phones pulled out an approximately 600,000 to 1 million unit sales. The M4 is now the company's third-generation smartphone.