LeEco: Welcome to the age of ET – Ecosystem Technology

Chinese tech giant LeEco has introduced its global plans and its ideas to build its ecosystem. The company made these announcements on Tuesday at the China-US Internet Eco Innovation Forum in Beijing.

“We believe that the global economy is soon to find itself in the age of ET, or the age of ecosystem technology,” said Liu Hong, co-founder and VP of Le Holdings, and president of the Internet Eco Research Institute.

Liu Hong speaking at the forum (photo from LeEco)
Liu Hong speaking at the forum (photo from LeEco)

Having seven subsidiary ecosystems that cover televisions, vehicles, VR, sports, etc., LeEco positions itself not as a Chinese company that is going global, but as a company that has always had a global vision in the first place.

The landing in the U.S., India, and Russia

Last Tuesday, LeEco announced in Los Angeles that it had acquired America’s largest television manufacturer, Vizio, with USD two billion. Liu said that the acquisition would win LeEco a large base of users as well as many offline partners in one go, making itself better positioned to develop in the U.S. market.

Liu disclosed that a press release to be named as “the Big Bang” will be held this September to announce the official landing of LeEco’s ecosystems in America.

Other than gaining a place in the world’s largest emerging economy, China, and in the most developed economy, the United States, LeEco has entered the Indian market by cooperating with ErosNow, a leading Indian over-the-top platform.

From this September, LeEco will also land its ecosystems in Russia.

“A truly successful enterprise does not restrict to one country or a single culture,” said Liu. “A successful enterprise is in itself global.”

Put your eggs in different baskets, but not because you might trip

Previously known as “LeTV”, the tech empire changed its name into “LeEco” this January, reflecting its changing business scale.

Liu set LeEco’s Super TV as an example. He said that LeEco’s Super TV is not merely a TV set, but an integration of TV set, contents, operating system, software and apps. In other words, the point is to integrate devices with contents, apps, and the cloud platform.

According to Liu, profits are not made by selling products but by letting users pay for the services delivered via the device.

Redefinition of cars, and plans in education and medicine

“A car in the future is just a pad with four wheels,” said Liu.

Aside from investing into an ecosystem for cars, and developing its electric vehicle time-sharing business LeShare, LeEco is developing pure electric vehicles that feature wireless charging and auto drive, among other features.

Senior VP of LeEco Supercar Tony Nie said that users may expect to purchase LeEco’s Supercar before long.

In terms of education and medicine, LeEco may not set foot in those fields directly, but has invested in relevant companies, who also have access to the resources and platforms of LeEco.

The company set up in this April its U.S. regional headquarters in Silicon Valley, and its lab Le Future is working on artificial intelligence, autonomous driving, as well as VR/AR.

(Top photo edited from Baidu Images)

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