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Dismissing the reports of terminating operations in India, global internet and technology company LeEco claimed that India is an integral part of the company's global expansion plans, owing to the pace and consistency of growth of the Indian market.
In an interaction with ANI here today, Alex Li, the newly appointed Group VP and COO of LeEco India stated that the company is looking to re-establish its position in the smartphone and smart TV segment, envisioning a double digit share in the latter.
"India is the most promising market in the smart TV segment. LeEco is focused on enhancing its product portfolio. Our main focus remains customer experience. Our new Smart TV series follows the same principle. We are not looking at exiting the Indian market," he said.
With regards to the alleged cost-cutting in the company, the group VP said that the company has scaled down operations on the content development front, with only a small group functioning in Mumbai. However, the company is expected to partner with content providers in the foreseeable future.
Li also asserted that the company's partnership with Eros Now is expected to resume shortly.
Lauding Prime Minister Narendra Modi's 'Make in India' initiative, Li stated that the company is looking to provide full support to this campaign. To this regard, the company is looking to invest in parts of Rajasthan and Noida in order to run manufacturing and production lines, thereby enabling long-term sustainability.
Following the launch of the latest Super4 ecotv series, Li said that as part of its expansion plans, the company is aiming to launch a new product every quarter. It is also looking at expanding its e-commerce platform, LeMall, by adding to its product portfolio a range of accessories and other products.
"We are not looking at exclusive offline retail stores at the moment. We are continuing our partnership with Amazon for the sale of our products, apart from selling them on our own platform," said Li, further stating that the company is looking to launch electric cars in 2017
According to the company's statistics, LeEco had a turnover of Rs 1,400 crores by selling at least 1.25 million phones and 12,000 smart TVs in the previous year.
Meanwhile, LeEco on Saturday unveiled its next generation of ecotvs in India with the Super4 Series including models Super4 X40, Super4 X43 Pro and Super4 X50 Pro.
The future-ready and fully loaded device Super4 X Series is priced at Rs. 46,990 along with the Super 4 X43 Pro at Rs. 63,990 and Super4 X50 Pro comes at a price of Rs. 86,990.
The Super TVs are available to users on Amazon and LeEco's own e-commerce marketplace - LeMall. Offers on the two platforms include cash back, EMI options and more.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)