The largest telecom company of China is going to conquer Russian audience.
As the “Kommersant” reports, the Chinese video service (LeEco), which is used to compare with the US Netflix, intends to become a full member of the telecommunications space of the Russian Federation. The company has already successfully established itself in India and the United States.
As for its information sources the “Kommersant” refers to the informants within the Russian telecom industry. According to them, the change of position in the corporation JD.com for the one in the LeEco is planed by Victor Xu, President of the International Business Group, and Alexander Vasiliev, CEO at JD.ru in Logistics and Services.
Victor Xu is most likely to be engaged in promoting the LeEco in the markets of the Eastern Europe and CIS, and the prerogative of Alexander Vasiliev’s activities will be directly the Russian market. Mr. Vasiliev confirmed to the edition that his cooperation with the LeEco was under discussion, and Victor Xu did not rule out his cooperation with the “Chinese Netflix”.
According to the same source, the LeEco is about to inaugurate its representative office in the Russian Federation this summer and to become a full player of the Russian communications market by offering both its own video content and mobile devices of own design.
The core business of the Chinese company LeEco, set up in 2004 and named LeTV until January 2016, is video streaming. The audience of the streaming online broadcasting by LeEco amounts to 50 million people daily and 750 million people monthly. The company provides access to 5 thousand movies and 100 thousand TV series.
In addition to the acquisition, production and distribution of video, the company makes mobile devices, deals with e-commerce, makes electric cars, provides services using cloud-based technology, etc.
Last April was remarkable to the company due to its entry into the first-generation smartphone market with Le 1, Le 1 Pro, Le Max. According to the Beijing Business Today, the company sold over 4 million mobile devices during the year. At the same time, in 2015 the company LeEco won the US and Indian markets, and actually intends to enter the Russian communications market.
