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Meitu works to reinvent itself as China's Instagram

Selfie touch-up app developer seeks new growth after two years of losses

Meitu is seeking a way in with traditional retailers via its Magic Mirror, which allows shoppers to see how they would look wearing different cosmetics. (Courtesy Meitu)

HONG KONG -- Meitu, developer of China's wildly popular beauty enhancing photo app "Meitu Xiuxiu," has spent years trying to make money out of the self obsession of millions of monthly active users.

Two years after listing in Hong Kong at a value of more than $4 billion, however, loss-making Meitu is going for its own makeover by transforming its flagship photo app into a social media platform and licensing its core hardware business to smartphone heavyweight Xiaomi.

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