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LeEco to Invest $100 Million in Russia as their third International Market to Sell Smartphones

The fastest growing online smartphone brand in China, LeEco has eyed on international expansions in 2016. The company already created a huge fan base in India and the affordable Le 1S and its successor Le 1S Eco are the hot selling devices at sub Rs. 10,000 segment. It had also announced to set up R&D center and branded retail outlets in the coming months. The company recently opened its U.S headquarters in the Silicon Valley and almost 250 employees are currently working there.

With the slowed down smartphone penetration in its home country, many Chinese brands are exploring foreign markets for selling their devices. While many Chinese brands are stepping out towards Southeast countries, LeEco is looking at larger markets. After India and the U.S, the company is now entering Russia, which is the fourth largest smartphone market. The company announced to invest $100 million and brings LeEco’s ecosystem of content with localisation to Russia.

The company will also sell Le SuperTVs, Le Superphones, smart apps, and also cloud based services. It will also set up its own office in the next couple of months. LeEco also signed few MoU’s with few Russian companies for sourcing local content. With these agreements, LeEco has right to stream Russian movies, animations, TV dramas and other video content in China and other countries.

LeEco also helps Russian companies in translation and licensing their content outside of Russia. Apart from the smart devices, the company recently showcased the LeSEE, its first electric car. The LeShare app provides electric car on hourly bases and is currently limited to China. Unlike other smartphone brands, LeEco Superphones compete against the high-end devices from other manufacturers. As of now, there are no details regarding when the device will be launched in Russia.

By Teja Chedalla on Wednesday 25th of May 2016


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