Beijing, China based global internet conglomerate LeEco has reaffirmed the importance of the Indian market to the company amid its recent strategic realignments.
“India represents the future and its user value may surpass China in a few years,” said YT Jia, co-founder and chairman of LeEco at the company’s investor meeting in Beijing on November 10.
“No matter how hard it is to crack the India market, we will try our best to grasp the opportunity there,” Jia said.
LeEco pioneers in the industry with its unique ecosystem business model that connects products and services including video streaming, TV, smartphone, content production and electric vehicles. It is also keen to expand its ecosystems around the world with presence in Hong Kong, India, Russia and the US, where India is on the priority list of LeEco.
Now LeEco embarks on a new phase of its development, from capital-fuelled expansion to building a stronger hold of existing markets and achieving higher profit, according to a previous letter Jia sent to LeEco employees.
“We will focus on China, American and India and achieve breakthroughs in these three valuable regional markets,” Jia wrote in the letter.
Since its entrance into India in January this year, LeEco has introduced two generations of its Superphone, one generation of SuperTV and entertainment membership services. It has built offices and recruited hundreds of talents in three major cities in India as well as retail networks and a local research centre.
LeEco is committed to the Indian markets and there will be new launches of LeEco products in India in the recent weeks.
LeEco, formerly known as Letv, is a global pioneering internet and technology company with multiple internet ecosystems across content, devices, applications and platforms.
Founded in November 2004 by Jia Yueting and Hank Liu Hong, LeEco employs more than 15,000 people and is the world’s first video company to go public with a market capitalization of more than $11 billion USD. Headquartered in Beijing, China and Silicon Valley, U.S., it has regional offices in Hong Kong, India and Russia.
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