When it comes to online smartphone shopping in India, the LeEco Le 1s device has beaten all rivals in the Rs.10,000-Rs.15,000 price bracket, a report revealed.
According to a report in IANS: Among 243 smartphones available online, the Rs.10,999 Le 1s was ranked the top selling device in February, the report from global market research firm IDC said.
Among 387 smartphones in both online and offline sales, Le 1s reached the top 10 list, ahead of Samsung’s Galaxy J5 and Xiaomi’s Redmi 2. Launched on Flipkart in January, Le 1s received over 20 lakh pre-sale registrations and over 2 lakh orders in three flash sales.
The Chinese internet and technology conglomerate is set to host an event in Mumbai on Tuesday where it is rumoured to launch content services and new hardware.
LeEco is also eyeing a manufacturing base along with research and development centres in the country, the company’s vice chairman and co-founder said recently.
“We have already applied for the single-brand retail license 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 finalising our manufacturing location,” Vice Chairman and Co-Founder, LeEco, Liu Hong said.
“We are looking forward to meet the Indian prime minister and the telecom minister because we really want to contribute for ‘Make in India’ and ‘Digital India’ initiatives. We would like them to understand our ecosystem and support us manufacture in the country,” Hong added.
After storming the Indian market with its disruptive marketing strategies online, LeEco is also planning to sell its products via retail stores.
LeEco is also planning to set up in-house Content Delivery Networks (CND) across 10 cities in India with an initial investement of $10 million to ensure seamless content distribution.
Single Brand Store in India
Smartphone maker LeEco has filed an application with the Foreign Investment Promotion Board (FIPB) for undertaking single brand retail trading of electronic products both through brick and mortar stores and e-commerce portal in India.
“India is a key market for LeEco and we plan to significantly invest in setting up our business model in the country. 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,” LeEco India Smart Electronics Business COO Atul Jain said in a statement.
The company has also sought relaxation from the 30 per cent domestic sourcing rule so that it can bring in ‘cutting edge’ technology and ‘state-of-the-art’ features to the Indian consumers, the company said in a statement.
With plans to open fully-owned exclusive retail stores in top Indian cities, starting with New Delhi, Mumbai, Bengaluru, LeEco plans to display its entire ecosystem ranging from phones, TVs, VR Headsets, Bluetooth devices and power banks.
Additionally, the company will also open 500 franchise stores to ensure its consumers experience their breakthrough products and unique content integrated offerings across its device ecosystem.
LeEco, which positions itself as Internet ecosystem company, entered the Indian market early this year in January, with launch of smart cycle and two smartphone models – Le 1s and Le Max.
Earlier this month, the global player also announced setting up of in-house Content Delivery Networks (CDNs) in 10 cities across India by the end of 2016, with an investment of over $10 million (roughly Rs. 66 crores).
LeEco also has plans to set up an R&D centre in Bengaluru with a staff of 1,000 employees by the end of 2016.
The Beijing Story
Founded by Jia Yueting, in November 2004 , LeEco Group is building a “Le Ecosystem”, an online platform with content, devices and applications. The company is engaged in myriad businesses, spanning from Internet TV, video production and distribution, smart gadgets and large-screen applications to e-commerce, eco-agriculture and Internet-linked electric cars, which were announced in late 2014.
Till date it has launched four smartphones under its Le brand. The four dual-SIM smartphones are claimed to be the first in the world to come with USB Type-C ports.
LeEco Group also has a film production company called Le Vision Pictures.
The company has more than 5,000 employees, and is expanding to other countries such as the US and India.