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Internet and technology conglomerate LeEco announced that its Founder, Chairman and Chief Executive Officer Jia Yueting has become the Chairman of the Board and the Nominating Committee of the leading smartphone maker Coolpad on August 5th. This is after LeEco turned into the largest shareholder of Coolpad on June 17th, with a total of 28.9 percent stake of Coolpad.
With strong technology capacity and wide user base from Coolpad, LeEco is set to further revolutionize the smartphone market with its unique "ecosystem" businessmodel, where multiple products and services ranging from smartphone to electric car are interconnected.
On Monday (August 8th), Coolpad's stock price spiked over 20% compared with that of August 5th, thanks to the news.
LeEco's Founder, Chairman and Chief Executive Officer Mr. Jia Yueting
"LeEco+Coolpad" is expected be the black horse of the saturated global smartphone market this year with an estimated sales of 50 to 60 million units, becoming one of the top four players in the industry in China among companies such as Huawei, OPPO and Xiaomi. It plans to become the NO.1 smartphone supplier in 2017 with an annual sales of 100 million handsets. Both brands have strong presence in India where Coolpad is already a household name in smartphone and LeEco is welcomed for its smartphone and smart TV products as well as its heavy investments in the country," said Yueting.
LeEco CEO Jia Yueting becomes chairman of major smartphone maker Coolpad | Business Standard News
With strong technology capacity and wide user base from Coolpad, LeEco is set to further revolutionize the smartphone market with its unique "ecosystem" businessmodel, where multiple products and services ranging from smartphone to electric car are interconnected.
On Monday (August 8th), Coolpad's stock price spiked over 20% compared with that of August 5th, thanks to the news.
LeEco's Founder, Chairman and Chief Executive Officer Mr. Jia Yueting
"LeEco+Coolpad" is expected be the black horse of the saturated global smartphone market this year with an estimated sales of 50 to 60 million units, becoming one of the top four players in the industry in China among companies such as Huawei, OPPO and Xiaomi. It plans to become the NO.1 smartphone supplier in 2017 with an annual sales of 100 million handsets. Both brands have strong presence in India where Coolpad is already a household name in smartphone and LeEco is welcomed for its smartphone and smart TV products as well as its heavy investments in the country," said Yueting.
LeEco CEO Jia Yueting becomes chairman of major smartphone maker Coolpad | Business Standard News