LeEco supports Coolpad by becoming its largest shareholder!

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LeEco, chinese media giant company, will support Coolpad Group Limited by becoming the company’s largest shareholder. LeEco, till today had the 18% of the total stakes, by giving $350 million into the ODM back in 2015, now bought an additional 11% stake of Coolpad Group Limited, putting them in the controller’s seat!

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LeEco has announced that this new buy, will not affect the operations at Coolpad but will help see both companies partnering on future projects more. The acquisition will possibly help more LeEco from Coolpad, as the second is one of the largest ODMs (original design manufacturers) in China with clients like India’s Micromax. By this way LeEco can reduce manufacturing costs for future phones.

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LeEco in the posters above as and in some other, might be hinting at a new product which might come in the near future. For the moment we don’t have a clear clue about it, but be certain that when we know and you will know!

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