LeEco, largest content provider in China becomes the biggest shareholder of Coolpad Group
LeEco (www.leeco.com) previously known as LeTV, has become the controlling shareholder of the Coolpad Group. Chinese Internet conglomerate has purchased 11 percent more shares of telecommunications equipment company Coolpad from Data Dreamland, the former largest shareholder of Coolpad, for $135 million. After the transaction, LeEco holds a total 28.9 percent of Coolpad's shares and thus becomes the largest shareholder of what is claimed to be "China's top four domestic mobile brand."
LeEco.com is the largest content provider in China with the valuation over 13B $ and rapidly growing its global ecosystem presence in India, Russia and soon in the USA. LeEco together with Coolpad, forecasts to sell 60 million units of smartphones in 2016 and 100 million units in 2017, making the combined company No. 4 smartphone vendor in China and No. 6 globally, thus becoming one of the biggest smartphone companies in the world.
The integration is expected to align Coolpad's products with LeEco's ecosystem model - platform, content, terminal and application. This linkup would also allow the LeEco's ecosystem model to integrate with Coolpad's near- hundreds of millions intelligent terminals within a very short time, helping the company boost its sales in North America, Europe, Asia and Africa.
LeEco, as Coolpad's largest shareholder, will not only benefit from added product research, patents, marketing and after-sales capabilities, but also allow the companies to strengthen its respective brands and change the mapping of global smartphone industry.