After India, LeEco to enter the Russian market with $100mn investment

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

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.

The memorandum will provide an action framework for the promotion of Russian movies, TV dramas, animations and other video products in China and other markets. In addition to providing a globally accessible platform for the distribution of Russian content, LeEco will assist Russian partners in content localisation such as translation, licensing and authorization in China and other countries.

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

 

During the signing ceremony, LeEco co-founder and vice chairman Liu Hong met with Herman Klimenko, IID chairman and Russian President Vladimir Putin's special adviser on Internet-related affairs.

With inputs from IANS

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