LeEco (formerly Letv) is one of the leading tech companies in China. While originally an online video services company, LeEco (Leshi Internet Information & Technology) has since diversified into smart gadgets (including smartphones), e-commerce and IoT, making it one of the leading lights of the Chinese tech scene at the moment. The company is one of the many Chinese firms that have set up shop in India over the past couple of years, after Xiaomi achieved immediate and spectacular success on its entry into the country back in mid-2014. What’s interesting about these companies from India’s northerly neighbor is that quite a few of them have either already setup manufacturing and/or R&D facilities in the country, or have expressed interest in doing so at some stage in the near future.
The list of tech companies looking to setup manufacturing facilities in the country is a fairly long one, and while Samsung, LG, Sony and other global giants have been already making quite a lot of their products in the country for years now, the latest rush includes a whole host of Chinese firms including the likes of Xiaomi, Gionee and Vivo, among others. Now, according to latest reports published in the Indian media, LeEco is the latest in line to have expressed an interest to setup a manufacturing plant along with R&D centers in the country as part of the federal government’s ‘Make in India’ initiative, according to the company’s vice-chairman and co-founder, Mr. Liu Hong.
Talking to reporters about LeEco’s plans in one of the largest smartphone markets in the world, Mr. Hong said that the company has already got the green light from the Ministry of Communications and IT for its proposed factory. The LeEco co-founder also said that the company plans to invest around Rs. 500 Million ($7.5 Million) to open 8-10 company-owned retail stores across the country, in addition to around 500 franchise stores. The company currently sells its products in the country exclusively through Indian online retailer, Flipkart. Meanwhile, Mr. Hong also said that LeEco is planning to set up in-house Content Delivery Networks (CND) across 10 cities in India with an initial investment of $10 Million. According to him, “Our goal is to be among the top three players in the Indian market soon. LeEco’s content — be it movies, dramas, reality shows, music or sports – is central to our ecosystem which we will replicate in India”.