August 30, 2016 7:14:41 pm
LeEco, the Chinese internet ecosystem major has announced its first manufacturing unit in India. The announcement is in alignment with company’s support for government’s Make In India initiative.
LeEco made its debut in India almost eight months back with the launch of Le 1s and Le Max smartphones. Since then, the company has expanded its offerings to ecosystem-based Le 1s (Eco), Le 2 and Le Max 2. The company has also launched its 4K enabled Super3 TV series in India. LeEco has started its first manufacturing facility in Greater Noida and it claims to have made an investment of $5 million and a further $2 million has been set aside for the automation process. LeEco’s first manufacturing facility in India was inaugurated by Union Minister for Electronics & Information Technology and Law & Justice, Ravi Shankar Prasad in the presence of LeEco India COO Atul Jain.
“With the objective of making India the manufacturing hub for electronics, the Indian Government has undertaken various initiatives to create a conducive business environment. As the market size for electronics is expected to grow to US$400 billion by 2020, it is imperative to promote indigenous manufacturing. LeEco is a name of global reputation and it is heartening to see it align with “Make in India” just after entering India eight months earlier. We laud their efforts of training local talents and building a center of R&D excellence in the country,” said the minister.
Along with the inauguration of this new facility, LeEco also confirmed that it has surpassed sales of over 1 million smartphones in India.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.