LeEco News

LeEco to invest $7million for ‘make in India ‘ project

LeEco make in India – LeEco or LeTV will initially invest $5 million and will further add $2 million for their ‘make in India’ campaign and will start manufacturing in India . The global internet technology conglomerate proudly announced the launch of its first state-of-the-art smartphone manufacturing facility in Greater Noida, India.

LeEco make in India

The technology giant has collaborated with leading electronics manufacturer Compal Electronics to set up this facility in the countrythe official launch of plant operations was commenced by The Hon’ble Union Minister for Electronics & Information Technology and Law & Justice, Shri Ravi Shankar Prasad in the presence of Atul Jain, COO of Smart Electronics Business for LeEco India.

At the Inauguration, the minister said, “With the objective of making India the manufacturing hub for electronics, the Indian Government has undertaken various initiatives to create a conducive businesses environment. As the market size for electronics is expected to grow to US$400 billion by 2020, it is imperative to promote indigenous manufacturing. LeEco is a name of global reputation and it is heartening to see it align with “Make in India” just after entering India eight months earlier. We laud their efforts of training local talents and building a center of R&D excellence in the country.”

Along with this major development, LeEco also announced another milestone in its India journey – crossing the 1 million sales volume for smartphones in India.  This is a commendable achievement for LeEco, zooming from zero to 1,000,000 in under 8 months.

Tin Mok, Vice President of Le Holdings and CEO of LeEco Asia Pacific said, “India is top priority in LeEco’s global expansion roadmap. Our investments here – be it our manufacturing plant or our R&D centre that will train hundreds of local talents – all demonstrate that we are here for the long haul.  Our ultimate objective is to offer our users more and more locally manufactured products that are customized to Indian consumers’ needs.  We have a strong R&D team in India and plan to add over 1,000 engineers to it by the next year, which we intend to leverage for designing and developing products that resonate even better with our users here and also in overseas markets.”

Based in Greater Noida, the facility is spread over an area of 200,000 sq. feet and has a capacity of producing close to 60,000 phones per month initially. LeEco plans to rapidly ramp up the production to approximately 200,000 Superphones per month by the end of 2016. This facility will now ensure that users get the same quality of products manufactured locally at better price. LeEco is already employing close to 200 skilled employees at the facility and as it scales up manufacturing, it plans to ramp up this number significantly.

LeEco entered the Indian market in January 2016 and took it by storm. The company has launched five Superphones, its LeEco membership of content and internet services, its e-commerce platform LeMall and most recently its SuperTVs – the Super3 Series. The Superphones have made an enormous dent in the market and the 1 million milestone speaks for their growing popularity. To celebrate this occasion, LeEco will be offering highly attractive “Le Million Joy” package for Indian users from August 30 to September 1st, available both on LeMall and Flipkart.

 

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