Exclusive Offline LeEco Stores to Open in India

LeEco has filed an application with the Foreign Investment Promotion Board (FIPB) for undertaking retail trading of electronic products both through physical stores and e-commerce portals.

New Delhi, April 18, 2016

The company has also sought relaxation from the 30% domestic sourcing rule so that it can bring in “cutting edge technology” and “state-of-the-art” features to Indian consumers.

LeEco, founded in 2004 by Jia Yueting and Liu Hong and operating from Beijing, was formerly known as Letv. It’s a global internet and technology company with multiple internet ecosystems across content, devices, applications and platforms. LeEco employs more than 10,000 people and is the world’s first video company to go public with a market capitalization of more than $12 billion USD. It has regional headquarters in Hong Kong, Los Angeles and Silicon Valley.

LeEco is engaged in myriad businesses, spanning Internet TV, video production and distribution, smart gadgets and large-screen applications to e-commerce, eco-agriculture and connected super-electric cars. The company also has one of the world’s largest libraries which includes movies, TV dramas, entertainment shows, sports and music, which can be viewed on LeEco devices like Superphones and Super TVs. Breaking the barriers of industries, LeEco provides personalized products and services for an enhanced user experience at disruptive prices.

With plans to open fully owned exclusive retail stores in top 8 to 10 cities, starting with New Delhi, Mumbai and Bengaluru, LeEco aims 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 can experience their breakthrough products and unique content integrated offerings across its device ecosystem.

“We at LeEco are also aligned with the Government’s Make in India initiative and also plan to start manufacturing in India very soon”, said Atul Jain, COO, Smart Electronics Business at LeEco India

The global player also announced setting up in-house Content Delivery Networks (CDNs) in 10 cities across India by end of 2016, making a significant investment of over 10 million USD to set up this CDN/cloud infrastructure.