LeEco has plans to make phones in India and set up an R&D centre in Bengaluru
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LeEco, the Chinese company that is known for its budget offering Le 1s in India, has plans to open 500 offline franchise stores in the country. The company has filed its application for the same with the Foreign Investment Promotion Board (FIPB) for single brand retail of its products, via both offline brick and mortar shops, and its e-commerce partners. The company is planning to open fully-owned exclusive retail stores in top Indian cities, including New Delhi, Mumbai and Bengaluru.
Atul Jain, COO, Smart Electronics Business, LeEco India, said, "India is a key market for LeEco and we plan to significantly invest in setting up our business model in the country. We are committed to offering our users cutting edge technology at disruptive prices. We have received a great response from consumers so far for our Superphones and now plan to strengthen our presence in the market by opening our own stores and e-commerce portal to offer our users the best-in-class experience”
With these exclusive stores, LeEco will be showcasing its other products too, which include TVs, Bluetooth devices, VR headsets and power banks. The two phones, Le 1s and Le Max, will be sold via these stores as well.
Moreover, the company has plans to join the “Make in India” bandwagon, and will start manufacturing their devices in India. The company is making significant investments of about 10 million USD in content delivery networks and cloud infrastructure. LeEco has also shared its plans to set up an R&D centre in Bengaluru, with an expected staff of 1,000 people by end-2016.
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