LeEco to enter Russia with $100 mn investment

Beijing, May 25 (IANS) After making inroads into India, Chinese internet and smartphone conglomerate LeEco is set to enter the Russian market with a $100 million investment plan.

LeEco has signed a memorandum with the Institute of Internet Development (IID), Russian Export Centre and JSC Digital Television to export Russian media content to China and other markets and build a Le ecosystem in Russia, the company said in a statement.

LeEco will provide Russian users an all-new experience delivered through the internet, smart devices, smart applications and cloud.

LeEco will also assist Russian partners in content localisation such as translation, licensing and authorisation in China and other countries.