Chinese electronics firm LeEco is planning to a set up a 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 (research and development) 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 said.
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 the Indian market with the launch of smart cycle and now plans to bring ‘Le Superphones’.