On 19th of October, LeEco made their official debut into the US market. According to speech made by Jia Yeuting, the CEO and founder of LeEco in San Francisco, LeEco would begin selling their smartphones and Smart TVs from Nov. 2nd. Along with their main products, TV and smartphone, they have also presented streaming service, bike and automobile, all of which will compose the whole ecosystem.

Compared to other companies leading in consumer electronics market such as Apple and Samsung, LeEco takes a different approach. Their products are at more affordable prices which, on the other hand, means less earnings for the company. However, because what LeEco aims is not restrained to selling one or two products more, but rather to establish their ecosystem where people are using LeEco’s devices, consuming LeEco’s contents, driving LeEco’s car and shopping in LeEco’s shopping platform. So, short-term profit is not so much of their concern, according to Jia Yeuting.

LeEco has been preparing quite thoroughly for successfully settling in the US market, mainly through partnerships and acquisition. LeEco announced the plans to acquire TV manufacturing company Vizio Inc. in US. And LeEco’s streaming service would include content from their partners, such as MGM, Lionsgate, VICE and Showtime.

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mjkim

MJ explores the startup community across a variety of industries. MJ is particularly interested in O2O and Big Data. MJ is based in Shanghai.