Chinese company Letv will enter the Indian market next week with its range of products as it looks to cash in on the burgeoning smartphone market in the country. The company will host an event on January 5 to launch its products in the country, according to the media invites. Also Read - Why smartphones must be classified as an essential product during COVID-19 lockdowns
While reports suggest that Letv may introduce two smartphones, but the company has not confirmed the same. Letv has been hosting meetups in the national capital and Bengaluru, comprising fans, tech enthusiasts, bloggers and influencers to introduce the company and products. Also Read - How is the Smartphone Industry Trend in 2021?
It also showcased Le Max handset at the meet. The all-metal smartphone has a 6.3-inch display, 2GHz octacore processor, 4GB RAM, 64GB memory, 21MP rear camera and 3,400 mAh battery. It is priced at CNY 2,999 (about Rs 30,500). Also Read - Flipkart Smartphones Carnival sale: Deals on Apple, Samsung, Poco, Realme, more smartphones
Founded in 2004, Letv also offers live streaming, cloud, e-commerce, and smart TVs among other products and services. It also has a research partnership with luxury carmaker Aston Martin for development of connected electric vehicles. Letv Associate Director Digital Marketing Ivan Wang said India is a key top priority market for the company. It intends to match the product launches in India with that of global launches, he added.
LeTV is one of the many Chinese companies to enter the Indian market recently. In the past two years, a slew of companies like Xiaomi, OnePlus, QiKU, Coolpad and Meizu have entered the Indian market. Handset makers are looking to tap the multi-billion dollar opportunity in India, which is one of the fastest growing smartphone markets in the world.
According to research firm IDC, smartphone shipments in India grew 21.4 percent in the July-September 2015 quarter to 28.3 million units, buoyed by a three-fold jump in demand for 4G-enabled devices.
Samsung was the largest player with 24 percent share of the smartphone market, followed by Micromax (16.7 percent), Intex (10.8 percent), Lenovo Group (Lenovo and Motorola at 9.5 percent) and Lava (4.7 percent).