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August 17, 2016

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LeEco aims to be one of Top 3 firms

LEECO plans to sell 100 million smartphones and become one of the top three vendors in China in 2017 as it seeks to tap the expertise of Coolpad following its acquisition.

The two brands are set to sell 50 to 60 million smartphones this year and about 100 million units in 2017, LeEco said.

“LeEco’s eco-system resources and Coolpad’s smartphone production will create a new giant in the domestic smartphone business,” said new Chief Executive Liu Jiangfeng yesterday.

But LeEco-Coolpad will face challenges from the top three brands in the domestic market Huawei, Oppo and Vivo, analysts said.

LeEco, whose business covers online video, smart TV and cloud computing, has sold more than 10 million smartphones since it penetrated the market last year. Coolpad, which was bought by LeEco for 3 billion yuan (US$453 million), sold about 40 million units annually.

The firm, which launched a dual-camera phone yesterday, seeks to remain dual brands targeting different consumers.



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