Jaitley meets LeEco's APAC CEO, agrees to extend support to its development in India

Union Finance Minister Arun Jaitley along with a delegation recently met with Le Holding's Vice President and CEO, APAC of LeEco, Tin Mok in Beijing.

During the meeting, Mr.Mok introduced LeEco's unique Internet ecosystem model, global expansion plan and the strategy for India. Jaitley spoke highly of LeEco's impressive achievements in India so far and added that the Indian government will be providing more policy and institutional support for LeEco's future development in the country.

He stressed that it was his belief that the Indian market is one with huge potential, as well as his hope that LeEco will further expand its scale of development and investment in India.

During his meeting with Jaitley, Mr.Mok further emphasized that LeEco's India plan deeply corresponds with the "Make in India" program. With the company's globally successful ecosystem model, and added that 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.

At present, LeEco has already set up a R and D Center in Bangalore. Tin Mok expressed that in the future, LeEco will expand the center to have around 2000 developers, and become the world's third largest R and D Center.

In addition, he said LeEco will set up assembly plants to produce the company's superphones and other smart devices. He said that these plans will further create job opportunities for Indians

LeEco officially entered the India market in January this year, unveiling two Superphones, the Le 1s and Le Max. The Superphone sales reached more than 500,000 units in just 100 days and broke records in the India smartphone industry. In early May, LeEco launched its first "Made for India" Superphone, the Le 1s Eco, and is transforming the way of Indians' entertainment content consumption with its innovative model bundling smart devices and membership program.

LeEco has announced the investment of USD 10million 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 has also made an announcement about plans to establish official offline stores in 8 to 10 major cities across India, including New Delhi, Mumbai, and Bangalore, as well as 500 franchise stores.