NEW DELHI: Chinese internet and technology conglomerate LeEco's newly-launched second generation devices are currently making headlines for technology features at value prices.
LeEco’s recent deal announcement with Coolpad has been described as one of the most significant consolidation deals in the industry.
“As part of this vision, the company has purportedly made definitive moves towards aligning with the government’s ‘Make in India’ campaign,” the company said in a statement on Thursday.
“From planning, to setting up their own manufacturing unit and R&D centre to already announced $10 million investment in their own Content Delivery Networks (CDNs), the company has big plans for the Indian market,” it added.
LeEco recently bought 11 per cent Coolpad shares from Data Dreamland, the former largest shareholder of Coolpad, for $135 million.
After the transaction, LeEco holds a total 28.9 per cent of Coolpad's shares becoming the largest shareholder.
According to the company, the integration would help Coolpad's products to align with LeEco's ecosystem model -- platform, content, terminal and application.