LeEco, previously known as Letv, it is one of the leading technology company, and one of the largest online video companies in China. After Xiaomi, OnePlus, Gionee and Coolpad, LeEco is reportedly planning to set up a domestic base in India. LeEco will take the advantage of government’s “Make in India initiative, which incentives local production of hardware.
Vice Chairman and Co-Founder of LeEco, Liu Hong, told “We have already applied for the single-brand retail licence with the Foreign Investment Promotion Board (FIPB). The ministry for communications and information technology has given us options like Andhra Pradesh, Telangana, Raipur’s electronic cluster, Bhopal and Bhilwada (Rajasthan) to set up our manufacturing base. We will evaluate all the options before finalizing our manufacturing location.”
They wishes to open 8 to 10 LeEco stores with 500 franchise stores and they are mainly focusing Delhi, Hyderabad, Mumbai and Bangalore to open these retail stores.
LeEco’s smartphones getting huge demand since the very beginning, with 1S running out of stock in flash sales within 5 seconds. This gave confidence to LeEco to introduce other smartphones and products to Indians who want premium quality in inexpensive form. Lui Hong also commended that “The Indian consumers are demanding high-quality phones at reasonable price. We acknowledge this and see a great potential of manufacturing here”.