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LeEco Aligns With 'Make in India' With its First Local Manufacturing Facility Inaugurated by Union Minister Ravi Shankar Prasad
NEW DELHI, August 30, 2016 /PRNewswire/ --
Today is a double celebration for LeEco India. Within just eight months of operations
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. This
swift alignment with the Government's 'Make in India' initiative is a reaffirmation of
LeEco's commitment to India and its long-term plans for the country. The facility has been
set up at a significant investment of 5 million USD and a further 2 million USD has been
earmarked for the automation process.
(Photo:
http://photos.prnewswire.com/prnh/20160830/402508 )
The technology giant has collaborated with leading electronics manufacturer, Compal
Electronics to set up this facility in the country. The ceremonial lamp-lighting to
signify the 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 ago. 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 eight months.
LeEco has a strong portfolio of Superphones in India, several of which have been 'flagship
killers' and outperformed other established brands in the same segment. This is also a
testimony to the strong bonds that LeEco has created and nurtured with Indian consumers.
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 of 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."
Present at the momentous occasion, Atul Jain, COO of Smart Electronics Business at
LeEco India said, "This indeed is a historic moment for us as we translate our intent of
aligning with the Government's Make in India initiative with investment and other
commitments. We are proud to have established our local manufacturing facility
within eight months of entering the country, which is well ahead of schedule. Also, the 1
million milestone marks our strong mobile phone presence in the Indian market and we hope
to continue catering to the growing demand of users with our locally produced Superphones.
We would also like to thank our consumers on this occasion for their constant feedback and
support which has helped us in no small measure to grow at this scorching pace in India."
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. This initiative will play a key role in fostering innovation,
protecting intellectual property and enhancing skill development.
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 1,
available both on LeMall and Flipkart.
About LeEco Â
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 'Breakthrough Technologies, Comprehensive Ecosystem 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 conveniently 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.
Â
Media Contact:Â
Nitin KingerÂ
nitinkinger@le.comÂ
+91-9769988304Â
LeEco IndiaÂ
Â
Photo:
http://photos.prnewswire.com/prnh/20160830/402508
Photo:http://photos.prnewswire.com/prnh/20160830/402508
http://photoarchive.ap.org/
Photo:http://photos.prnewswire.com/prnh/20160830/402508
http://photoarchive.ap.org/
Le Ecosystem Technology India Pvt. Ltd.
LeEco Aligns With 'Make in India' With its First Local Manufacturing Facility Inaugurated by Union Minister Ravi Shankar Prasad
NEW DELHI, August 30, 2016 /PRNewswire/ --
Today is a double celebration for LeEco India. Within just eight months of operations
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. This
swift alignment with the Government's 'Make in India' initiative is a reaffirmation of
LeEco's commitment to India and its long-term plans for the country. The facility has been
set up at a significant investment of 5 million USD and a further 2 million USD has been
earmarked for the automation process.
(Photo:
http://photos.prnewswire.com/prnh/20160830/402508 )
The technology giant has collaborated with leading electronics manufacturer, Compal
Electronics to set up this facility in the country. The ceremonial lamp-lighting to
signify the 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 ago. 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 eight months.
LeEco has a strong portfolio of Superphones in India, several of which have been 'flagship
killers' and outperformed other established brands in the same segment. This is also a
testimony to the strong bonds that LeEco has created and nurtured with Indian consumers.
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 of 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."
Present at the momentous occasion, Atul Jain, COO of Smart Electronics Business at
LeEco India said, "This indeed is a historic moment for us as we translate our intent of
aligning with the Government's Make in India initiative with investment and other
commitments. We are proud to have established our local manufacturing facility
within eight months of entering the country, which is well ahead of schedule. Also, the 1
million milestone marks our strong mobile phone presence in the Indian market and we hope
to continue catering to the growing demand of users with our locally produced Superphones.
We would also like to thank our consumers on this occasion for their constant feedback and
support which has helped us in no small measure to grow at this scorching pace in India."
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. This initiative will play a key role in fostering innovation,
protecting intellectual property and enhancing skill development.
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 1,
available both on LeMall and Flipkart.
About LeEco Â
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 'Breakthrough Technologies, Comprehensive Ecosystem 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 conveniently 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.
Â
Media Contact:Â
Nitin KingerÂ
nitinkinger@le.comÂ
+91-9769988304Â
LeEco IndiaÂ
Â
Photo:
http://photos.prnewswire.com/prnh/20160830/402508
Photo:http://photos.prnewswire.com/prnh/20160830/402508
http://photoarchive.ap.org/
Photo:http://photos.prnewswire.com/prnh/20160830/402508
http://photoarchive.ap.org/
Le Ecosystem Technology India Pvt. Ltd.