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China’s Letv plans to enter India by early 2016
MUMBAI: Chinese entertainment and online video company Leshi Internet Information & Technology, popularly known as Letv, is planning to enter India by early 2016, founder Jia Yueting said at an event in Beijing.
“Letv could enter India by early 2016. Our products are in preparation, and we will endeavour to make localised products for the Indian market,” Yueting said at the launch of the company’s Le 1S phone and a 120-inch Le TV.
Working towards providing Indian consumers with local entertainment content such as movies and TV shows, the company is looking at forging partnerships with local content providers and creators to create the first-of-its-kind entertainment content-based ecosystem in India.
Letv will not only bring its devices to the country, but also its impressive content-based Eco User Interface, which will provide consumers with access to Letv’s unique and world-class content-device based ecosystem that has found great success in the Chinese markets.
Considering the Indian government’s invitation to international firms to set up manufacturing units in the country, the company further suggested that as part of its long-term vision, it would also be looking at setting up production lines as well as R&D centres in India.
Founded in November 2004, Letv Group creates the Letv Ecosystem, a next-generation internet engine that is vertically-integrated to offer an online platform completed with content, devices and applications.
The company is engaged in an array of businesses, spanning from internet TV, video production and distribution, smart gadgets and large-screen applications to e-commerce, eco-agriculture and internet-linked super-electric cars, which were announced in late 2014.
It comprises a number of subsidiaries, including Letv.com, Leshi Zhi Xin, Le Vision Pictures, Wangjiu.com, Letv Holding, Letv Investment Management and Le Mobile.
In 2014, the aggregate sales of the group amounted to approximately RMB 10 billion.