NEW DELHI: Chinese device maker LeEco has sought FIPB nod for opening single-brand retail stores to sell its electronic products.
The smartphone maker on Monday said it has “filed an application with the Foreign Investment Promotion Board (FIPB) for undertaking single brand retail trading of electronic products both through brick and mortar stores and e-commerce portal”.
“India is a key market for LeEco and we plan to significantly invest in setting up our business model in the country. We have received a great response from consumers so far for our superphones and now plan to strengthen our presence in the market by opening our own stores and e- commerce portal,” LeEco India Smart Electronics Business COO Atul Jain said.