LeEco coming with its first Smart TV on August to rule over Indian market in the LED industry. Moreover, LeEco has also acquired Vizio for $2 billion.
LeEco, a Chinese technology company and which is one of the largest online video companies in China is known for their Le2 and Le Max2 smartphones in India and now it is going try its hands on Smart TV. It’s going to make debut in the LED TV industry by launching its first Smart TV in India on Aug 4th.
In the context of above launch, LeEco is sharing invites with the media where it is going to reveal its first Smart TV.
LeEco was formally known as LeTV which is well known in its homeland for its products but now LeEco wants to establish the same command globally.
LeEco has recently acquired American TV manufacturer Vizio for $2billion.
Further Vizio’s hardware and software business will be operated as a fully owned subsidiary of LeEco while Vizio’s data business, Inscape will operate separately as a privately owned company.
Yueting Jia, Founder, Chairman and Chief Executive Officer, LeEco believes in the advancement of technologies and with that they took an important step to acquire VIZIO as part of their global strategy and building North American customer base.
He further added that when Vizio came out it introduced a disruptive business model that changed the industry and quite align with their vision and plan to break boundaries to put the main emphasis on customer-focus products, software, and services.
William Wang will be appointed as Chairman and Chief Executive Officer of Inscape, to grow brand’s data business.
Previously LeEco has witnessed unbelievable success with its product line which it introduced in India and now it is coming in the consumer electronics market it expects a phenomenal response from the Indian consumers. LeEco has also introduced its OTT services with its smartphones in collaboration with Yupp TV, Hungama Music and Movies.
Another Chinese brand known as Xiaomi is also known for its smartphones in India. It also makes TV’s and other appliances. However, it has not revealed any plans that it will be coming with their consumer electronics to the Indian market.
But LeEco has already taken the lead and it will be interesting how well these two Chinese company will be do in India.