LeEco sees 50% sales coming from brick and mortar retail

After brands like Motorola, Xiaomi and Yu, Chinese Internet major LeEco is now taking the offline route and expects about 50 per cent of its sales to come from brick-and-mortar retail in the next one year.
The company, which forayed into the Indian market in January this year with ecommerce major Flipkart, plans to be present across about 10,000 retail points in the first phase of offline expansion.
"We have fast-tracked our growth trajectory in India. This is a step ahead in making our phones more accessible to users. In the first phase, we are looking at retail presence in cities like Delhi, Mumbai, Chennai, Hyderabad, Bengaluru as well as parts of Uttar Pradesh and Maharashtra," LeEco India Smart Electronics Business COO Atul Jain told PTI.

He added that the company would also look at setting up its wholly-owned retail stores across the country.
Brands like Xiaomi, Motorola and Yu, which had launched operations in India through the online route, have expanded their presence in the offline space to cater to the huge demand in the Indian market.
India is one of the fastest growing smartphone markets globally.

The Chinese internet and ecosystem conglomerate is also looking at launching its own ecommerce platform, LeMall in India to sell its devices in the country.
"We are looking at a presence across 5,000-10,000 retail points in the next three months. In the first year, we expect about 50 per cent of the sales coming from offline retail," Jain said.

LeEco will start selling its Le1s smartphone through offline retail and will add more devices in the coming weeks.
The company will launch two new devices on June 8.
Faraday Future became technical partner and title sponsor
of the renowned U.S. Racing team Dragon Racing in July this year, renaming the team to Faraday Future Dragon Racing.
The California-based electric vehicle start-up Faraday Future has reached a strategic partnership with LeEco and unveiled its first prototype FFZERO1 Concept at CES 2016 (Consumer Electronics Show). In April, Faraday Future laid the foundation of its first Internet-connected intelligent and environmentally friendly factory in the U.S.

In the future, the team will incorporate more Faraday Future technologies, including software, firmware, motors, gearbox and the FF Echelon Inverter to the racing vehicles.
About Faraday Future:
About LeEco:
LeEco, formerly known as Letv, is a global pioneering Internet and technology company with multiple Internet ecosystems across content, devices, applications and platforms. Founded in November 2004 by Jia Yueting and Liu Hong, LeEco employs more than 14,000 people and is the world's first video company to go public with a market capitalization of more than $12 billion USD. Headquartered in Beijing, China, it has regional headquarters in Hong Kong, Los Angeles and Silicon Valley.

With 'Complete Ecosystem, Ground-breaking technologies, and Disruptive Pricing' as the guiding principle, LeEco is engaged in a myriad of businesses, spanning from Internet-based Super TV and Superphones, video production and distribution, smart devices/accessories and large-screen applications, to e-commerce and even connected super-electric cars. The company also features one of the world's largest content libraries, comprising of movies, TV dramas, entertainment shows, sports and music, which can be onveniently viewed on LeEco products,including the Superphones, Super TVs, and in the near future, Le Autos. Breaking the barriers of industries, LeEco provides personalized products and services for an enhanced user experience at disruptive prices.

Media Contact:
Nitin Kinger
Nitinkinger@le.Com
+91-9769988304
LeEco India
Source: Le Ecosystem Technology India Pvt. Ltd.