wordpress blog stats
Connect with us

Hi, what are you looking for?

LeEco applies to FIPB for opening single brand retail stores in India

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…

Please subscribe/login to read the full story.
Written By

Free Reads

News

Amazon and Flipkart are opposing untested ex-ante regulations modeled according to the EU Digital Markets Act in India, saying the current system is already...

News

As per a report, Apple has been testing its own large language model (LLM) since last year but its technology remains behind the AI...

News

Telecom companies are against a regulatory sandbox, as they think information revealed by businesses during the sandboxing process might be confidential should be out...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ