Chinese smartphone maker LeEco which recently launched its devices in India has filed an application with the Foreign Investment Promotion Board (FIPB), seeking approval for opening single brand retail shops and an e-commerce portal in India. Additionally, the smartphone maker has also sought relaxation from the 30% domestic sourcing rule; something which was also requested by smartphone makers like Xiaomi, Apple in their applications. However, in November 2015, the government had exempted the 30% rule for companies manufacturing “state of art and cutting edge technology” products. LeEco plans to open exclusive retail stores across top cities in India including New Delhi, Mumbai, Bengaluru, once the application is reviewed and processed by government authorities. Additionally, the company is also looking to open 500 franchise stores across the country. CDN networks in India: Earlier this month, LeEco said that it is planning to invest $10 million to develop cloud infrastructure for delivering content across mobile devices and smart TVs in India. It aims to introduce its cloud-based online streaming platform for both mobile devices and smart TVs that it expects to launch in India. Tie ups with Indian companies: In January, LeEco partnered with Eros Now for showcasing ErosNow’s repository of Bollywood films, music and; it also inked a deal with Yupp TV for streaming Yupp TV’s Live TV content on its platform. Additionally, in January, the company said that it would open a research and development centre in Bengaluru, which will have about 1,000 employees by the end of this year. LeEco currently has…
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