LeEco 2015 financial report (graphic): Super TV sales boost net profit by 59%

Chinese tech giant LeEco released its 2015 financial report on Sunday. The report shows profit driven by LeEco’s Super TV and growth in its TV production business.

The company’s net profit totaled RMB 579 million (USD 88.41 million) in 2015, a YOY increase of 59.04%, while its total revenue was RMB 13 billion, a YOY increase of 90.89%.

LeEco report

The company sold three million Super TVs last year, meeting its 2015 sales target. It aims to sell six million devices this year. LeEco uses a low-price strategy to grab market share in the smart TV market, and it claims to make about RMB 10 million per month through pre-loaded ads. Super TV users can access LeEco’s online content system, which contains over 100,000 episodes of soap operas and 5,000 films.

LeEco’s TV production subsidiary “Huaer Yingshi”, which means Flower TV, contributed to the growth in net profit. It produced several popular Chinese TV series in 2015.

LeEco overtook its top Chinese rival Youku Tudou in terms of revenue and profit in 2014. In 2014, LeEco’s gross revenue reached RMB 6.82 billion, beating Youku Tudou by RMB 2.82 billion. In the third quarter of 2014, LeEco’s net profit reached RMB 66 million, while Youku Tudou’s net loss was RMB 181.4 million. Youku Tudou continued to lose money in 2015, recording a net loss of RMB 435.6 million in the third quarter.

LeEco Youku Tudou

(Top photo from shafa.com.)

No Comments Yet

Leave a Reply

© 2022 All Tech Asia. All Rights Reserved.

AllTechAsia is a startup media platform dedicated to providing the hottest news, data service and analysis on the tech and startup scene of Asian markets in English. Contact us: info@alltechasia.com

%d bloggers like this: