Letv, a cross-platform multinational internet company based in China, is showing great potential to become a huge phenomenon in India. Although it is yet to enter the Indian market, its global activities have created considerable buzz in the country with everyone waiting in anticipation for its official launch.
A mega successful brand in China, Letv already has over millions of customers in the country. Being known for its disruptive innovations and business decisions, Letv has grown extensively in stature and size in China. Providing Chinese consumers with a creative and unique combination of high- end specification devices bundled with exciting content based services, Letv has captured the imagination of the entire nation. Letv’s unique business proposition and expertise has enabled it to further expand into the domain of EVs (Electric Vehicle), taking the company into business avenues where no internet based company has ever gone before.
Letv’s innovative content ecosystem along with its high-end devices will be a first of its kind Device –Content integration in the Indian market, considering there is no such product or service currently available in the country. The Indian industry is already abuzz with excitement over the company’s recent launches – Le 1S and the 120” Le uMax TV, which were unveiled ceremoniously in Beijing last week. When Letv enters the Indian market, it will possibly be providing its unique “device and content ecosystem” bundle for the first time ever in the country. Consumers are bracing themselves for this experience which will be like no other and will enable them to experience the best in entertainment on the high-end devices – all as a part of the complete “Letv Experience”.
India has the world’s second largest mobile user base and the world’s third largest smartphone user base. The Indian consumer has always shown great interest in new technologies, with their requirements evolving from simple voice calling; now users expect new innovative services in their phones – beyond just messaging, calling and social networking. Smartphones are on their way to compliment traditional channels of entertainment such as televisions, cinemas and gaming consoles. Currently, the Indian technology domain is on a bullish curve and is ripe to adopt and adapt new technologies and concepts. The entry of Letv in India, is expected to bring around disruption in the Indian consumer technology market and also help evangelize Indian Companies to understand the unique concept of bundled devices and content service. This will dramatically, change the way Indian companies view their businesses and open new opportunities for collaboration between the Indian and Chinese companies.
Founded in 2004 simply as a video streaming company, Letv has evolved and diversified to become an icon amongst Chinese companies. Started by its two founders, Jia Yueting and Liu Hong, in a small office in Beijing, the company today is expanding its businesses globally providing global audiences a chance to experience disruptive tech at its best. With a current staff of nearly 10,000, and office presences in Beijing, the United States and Hong Kong; as well as a listed company value of more than 93.5 billion Yuan (US$14.73 billion), the company is a perfect example of how a home grown firm can access the avenues of success, through the right amounts of innovative disruption.