Chinese electronics firm LeEco is planning to a set-up research and development centre in India with a team of about 1,000 people.
“We are very interested in this market, and we can build our R&D centre and manufacturing base here. The R&D centre alone, by the end of 2016, could be possibly 1,000 staff strong,” Le Holdings Co Ltd Vice President Tin Mok told PTI.
He, however, did not disclose the fund LeECo has earmarked for India but said “the investment will be huge”.
LeECo, earlier known as LeTV, entered India market with launch of smart cycle and now plans to bring Le Superphones along with smart devices such as 3D Helmet, LeMe Bluetooth Headphone and other LeEco ecosystem products like super TV, electric car and music services, among others.
“We see Indian’s good education system could support our product’s localisation as well, and LeEco aims to be a great localised multinational company,” Mok said.