LeTV unveils plans to enter India's digital media market
| 24 September 2015
LeTV intends to launch its smartphones, connected TVs and online video service in India soon, the Chinese digital media company has announced.
"Most people in India probably haven't heard of LeTV yet, but indications are that LeTV would soon build up a presence here to tap into one of the fastest growing markets for smartphones and other smart devices, with plans to start selling its streaming service and devices," the Beijing-based company said in a statement.
LeTV has 5,000 employees and a market capitalisation of about US$12 billion on the Shenzhen Stock Exchange, as well as a new US operation. Its core online video business in mainland China has a library of more than 1,00,000 TV series and 5,000 movies. The company also sells a range of smart TVs, smart bicycles, and introduced a range of smartphones in April 2015.
The company also lays claim to record sales worth $280 million in a single day at the LeFans Carnival in Beijing recently, where it sold nearly 594,000 LeTV smart phones, 382,000 smart LeTV television sets, and more than 1.2 million smart accessories.
LeTV has also just secured the prestigious English Premier League broadcasting rights for its online service in Hong Kong.