VARINDIA IT MAGAZINE

The founder of debt-laden tech conglomerate LeEco is facing yet another setback and this time from the China Securities Regulatory Commission Beijing branch. Jia Yueting has been ordered by the Security Commission to return to the country by the end of this month and deal with the company’s debts. The CSRC in its letter on Monday said that its failure to repay debts is “a serious violation of the legal rights and interests of listed companies and the interests of investors, with an extremely negative social impact”.  Shares of LeEco’s parent company, Leshi Internet Information and Technology Corp., were traded on the Shenzhen Stock Exchange until April, but trading soon halted allowing the company to review a restructuring plan.  Leshi was launched in 2004 by Jia as a video streaming service. In 2016, it embarked on an ambitious expansion plan under the LeEco brand, which included an agreement to buy American TV maker Vizio for $2 billion, the launch of smartphones...

LeEco has inked strategic partnership with one of the digital marketing solutions companies in India – iCubeswire. The expertise of the company will enable LeEco to further strengthen its digital communication by offering personalized strategies and integrated marketing campaigns. As part of the partnership, iCubeswire will support various digital marketing activities with accurate data, reports, analytics, and insights to drive higher RoI. In the past as well, iCubeswire has helped LeMall.com, in generating pre-buzz ahead of the launch of LeEco’s Superphones and sustaining momentum for them, ultimately aiding record-breaking sales... Read More

LeEco has announced that it is all set to strengthen its offline presence across the country after establishing itself in the online space. LeEco has partnered with top regional retail chains like Sangeetha and Poorvika & zonal distributors like Shivalik, AppsYouNeed, Pearl Infotech and PCH to expand its retail network. Through these partnerships, LeEco will be able to expand its retail base to 2,000 outlets across 65 cities. By the end of this year, LeEco plans to reach 6,000 – 8,000 outlets. “This marks another milestone in our India journey that has been incredible so far. Our strategy to strengthen our offline business is a testimony to our commitment to the Indian market. For this, we have tied up with some of the well-known names in offline retail across geographies and we will continue to add more partners as we go along,” said Atul Jain, COO of Smart Electronics, LeEco India .” Read MOre

LeEco and VIZIO announced today a definitive agreement under which LeEco would acquire VIZIO for $2 billion. The VIZIO hardware and software businesses will be owned and operated as a wholly owned subsidiary of LeEco, while the VIZIO data business, Inscape, will spin out and operate as a separate, privately owned company. “LeEco believes in breakthrough technologies, a complete ecosystem and disruptive pricing. Acquiring VIZIO is an important step in our globalization strategy and building our North American presence,” said Yueting Jia, founder, chairman and CEO, LeEco . .. Read More

In its flash sale campaign on LeMall.com India and Flipkart, LeEco garnered Rs.78.6 crore by achieving sales orders of over 61,000 units of its next-generation Superphones – Le 2 and Le Max2. The total registration has reached over 6 lakh within eight days. Atul Jain, COO – Smart Electronics, LeEco India, said, “This time, we have introduced world’s first Digital Lossless audio standard (CDLA). This will bring an unparalleled audio experience to our superfans, thereby ushering in an era of lossless music in India and the globe. This is going to become the new industry standard. We promise to live up to our Superfans’ expectation by bringing more breakthrough technologies, stronger comprehensive ecosystem, and disruptive pricing.” Read More

LeEco has purchased 11% of Coolpad’s shares, making it the largest shareholder, according to a deal announced on June 17. It bought the 11% Coolpad shares from Data Dreamland , the former largest shareholder of Coolpad, with 1.047 billion HKD (US$135 million). After the transaction, LeEco holds a total 28.9% of Coolpad’s shares and becomes the largest shareholder of China’s top four domestic mobile brands. Before the deal, LeEco was Coolpad’s second-largest shareholder after it invested 2.74 billion HKD (US$353 million) in buying 18% of the latter’s shares last June 28... Read More

On April 7th and 8th LeEco has announced LeEco Day v2.0 . The not-to-be-missed offers bonanza is the largest shopping carnival organized by any smartphone brand on the e-commerce platform. Celebrating its success in India, which the company has received in a short span of its launch and the great response that its Le Superphones have got from consumers, LeEco proudly brings back its Super Offers carnival. Great offers and benefits that the company has put up are- Offer #1 – The first in the row of benefits is an exciting exchange offer that gives consumers a chance to exchange their old smartphone and get upto Rs 9,999/- off on the Le 1s Superphone , the company’s flagship killer and upto Rs 21,000/- for the premium big & bold Le Max.  This is incredible since it means that on April 7 and 8, 2016 , the special LeEco Day, consumers can avail close to 90% off on ... Read more

By end of 2016, LeEco will set up in-house Content Delivery Networks (CDNs) in 10 cities across India. The in-house CDNs across 10 locations in India (including key cities like New Delhi, Mumbai, Bangalore) will be connected to LeEco’s global 650 CDNs through cloud, allowing LeEco smartphone or television users to stream audio, video or internet television content on-demand seamlessly and reliably, wherever they are. LeEco is also planning to investment over 10 million USD to set up this CDN/cloud infrastructure which will provide content delivery capabilities in linear channel, live events, and video on demand serving both mobile and TV segment, giving consumers a better user experience on LeEco products. Through this service, the company is aiming to reach out to close to 10 million user base in smart devices in these 10 locations across India... Read more

LeEco (formerly known as Letv worldwide) has finally entered India by launching two Superphones – Le Max and Le1S. LeEco has also highlighted its world-renowned Le Ecosystem. Atul Jain, COO of Smart Electronics Business, Le Eco India, has introduced 6.33-inch screen Le Max as the premium phone of the company. Le Max is backed by one of the world’s fastest processors, the Qualcomm Snapdragon 810, which is primed for better multitasking and unrivalled performance, all thanks to an octacore processor and the phone’s 4GB DD-R4 RAM plus variants of 64GB or 128GB storage... Read more