11/30/2021 01:44:40 pm

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LeEco: Chinese Tech Giant to Make US Debut in Three Months


(Photo : Getty Images) A LeEco badge is displayed on the side of the LeSee concept sports vehicle, manufactured by Le Holdings Co. also known as LeEco, at the Beijing International Automotive Exhibition in Beijing, China, on Monday, April 25, 2016.

After thriving in markets like China as well as India, Chinese tech and media company LeEco will now cater to customers in the United States.

The company has plans to launch itself as a brand in the U.S. in the next three months, according to a leaked internal memo signed by LeEco CEO Jia Yueting.

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"We will disrupt traditional industries... and create new value for users in North America and worldwide," Jia wrote in the memo, before adding that the company will aim to challenge the status quo and take on technology behemoths such as Apple, Tesla and Amazon.

The firm has also told CNET in a statement that its plans include the launch of a line of products and media services just in time for the holiday season.

Even though it was originally an online streaming website, dubbed as the "Netflix of China," LeEco now has established itself as a company in several industries, including smartphones, televisions and automobiles. Speculation about LeEco's move to the US has been going on since last year and the company has already set up an office in Redwood, California.

Earlier this year, LeEco unveiled a concept car and announced a partnership with Aston Martin to co-develop an electric vehicle. The company, which was previously known as LeTV, was one of the first ones to introduce phones powered by the Snapdragon 820 processor and a USB Type-C Port in its devices.

LeEco's expansion in the U.S. could be a challenging move for the company. In spite of being financially strong, it will not only face fierce competition from tech giant like Apple, Google and Samsung, but also other Chinese companies such as Xiaomi and OnePlus, which similar plans in the United States.

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