LexinFintech (LX) Signs Partnership with Huawei to Further Tap the Chinese Consumer Market

LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading online consumption and finance platform for new generation consumers and users in China, today announced its partnership with Huawei, in a number of areas to jointly tap the opportunities in the Chinese consumer market.

The two companies will collaborate in membership services, joint marketing, fintech product development, and buy-now-pay-later services to provide enhanced consumption solutions for the Chinese consumers, leveraging on Lexin’s expertise in financial technology, product development and operations, and on Huawei’s advantages in its business ecosystem, public cloud, big data, 5G technology, and artificial intelligence.

“Lexin’s multi-​level strategic partnership with Huawei will enable us to reach a wider group of quality users, whom we’ll provide an array of services for, including consumer finance and consumption services,” said Mr. Jay Wenjie Xiao, Lexin's chief executive officer. “In the meantime, Lexin hopes to enhance users' experience and product offerings together with Huawei, and help Huawei connect with more financial institutions by offering diversified consumer products and services.”

You May Also Be Interested In

• UnitedHealth (UNH) beats earnings, revenue estimates in Q1; shares up
• Sprout Social (SPT) Announces CEO Succession Plan
• My Size (MYSZ) Announces 1:8 Reverse Share Split