Letv aims to lift value with smartphones
Print Edition
LETV, the biggest firm by market value on China’s ChiNext growth enterprise market, yesterday unveiled three new smartphones as it expands into the sector.
Its entry into the new smartphone business and plans to expand in overseas markets, also revealed yesterday, are expected to propel Letv’s market price to a new level after it became the biggest listed firm on the ChiNext board with a market value of more than 76 billion yuan (US$12.3 billion), industry insiders said.
Letv aims to establish a new business ecosystem encompassing Internet video, TV, smartphone and electric car, said Jia Yueting, founder and chief executive of Letv.
Letv launched three high-end Super Phone models featuring video streaming, full metal design and super high-definition screens that offer more vivid colors compared with Apple’s iPhone 6 Plus‚ according to Jia.
The models, expected to be available next month, will sell at prices starting from 1,499 yuan with free Internet data. The Super Phone models will also be available in the US market soon, said Jia, who didn’t elaborate.
Letv’s new smartphone models tap its leading position in video content that draws 400 million monthly users in China.
Letv yesterday also unveiled a plan to set up a global research team to work on electric cars.
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