Chinese internet conglomerate LeEco is planning to set up superphones assembly plants in India in a move to create more job opportunities in the country, a statement said on Thursday.
During a luncheon hosted for select companies in Beijing on June 24 during the visit of Indian Finance Minister Arun Jaitley, Le Holding’s Vice President and LeEco’s CEO, APAC, Tin Mok met the minister and introduced LeEco’s unique Internet ecosystem model, global expansion plan and the strategy for India.
“With the company’s globally successful ecosystem model, LeEco looks to lead India’s traditional industries into a brand new era and hopes to turn ‘Make in India’ into a win-win ‘Innovation in India’ initiative,” said Mok
He also emphasised that LeEco’s India plan deeply matches with the Prime Minister Narendra Modi’s ‘Make in India’ programme.
LeEco, which has set up an R&D Centre in Bengaluru, is also planning to expand it to have around 2,000 developers.
The Chinese firm has also announced the investment of $10 million to develop CDN (content delivery network) in 10 major cities across the country to ensure the seamless streaming and experience of substantial high-quality content for the Indian user.
It will also establish official offline stores in eight to 10 major cities across India, including New Delhi, Mumbai and Bengaluru, as well as 500 franchise stores.