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LeEco’s Chairman, YT Jia has reaffirmed the importance of the Indian market to the company. At an investor meeting in Beijing, Jia stated, “India represents the future and its user value may surpass China in a few years.” LeEco has started a new phase of development, which focuses on building a strong base in existing markets.
Read the complete press release below
Leading global internet conglomerate LeEco reaffirmed the importance the Indian market has 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 Nov. 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.