SOURCE: Letv

Letv

April 14, 2015 03:30 ET

Internet Media Company Letv Launches in U.S.

Letv Brings Its Connected Ecosystem -- Including Streaming Video Service, Smart TVs and Phones -- From China to Users Around the World; Offices Opening in Both Silicon Valley and Los Angeles

SAN FRANCISCO, CA--(Marketwired - Apr 14, 2015) - Letv, one of China's fastest-growing technology companies, announced today its entry into the U.S. market in conjunction with the launch of its first smart phones. Letv provides a first-of-its-kind open, vertically-integrated ecosystem through a combination of devices, platforms, content and applications. Based in Beijing, the company was founded in 2004, employs more than 5,000 people and is listed on the Growth Enterprise Market in China with a market capitalization of more than $12 billion USD.

Letv is establishing a U.S. headquarters in Redwood City and rapidly building a Silicon Valley-based team; a separate office in Los Angeles has also opened. With this expansion, Letv is pursuing a strategy in which Silicon Valley, Los Angeles and Beijing are the connective threads among the global centers of applications, innovation and entertainment.

"Expanding to the U.S. is a natural progression of our business as we continue to aggressively pursue new services and markets," said Letv Founder and CEO Jia Yueting. "We believe that our open, vertically-integrated ecosystem is the future of Internet experiences in the connected age and a stark contrast from closed systems that limit consumer choices and industry innovation. Letv is boldly reshaping the boundaries of media with our 'Six Screens/One Cloud' approach by delivering a premium content experience across every screen: mobile, tablet, computer, cinema, TV and, soon, electric cars."

Letv's initial U.S. offering, expected to be available later this year, will include its smartphone and smart TV, alongside its rich library of Chinese content, which includes more than 100,000 television episodes and 5,000 films, many exclusively Letv-produced and distributed. Letv will be localizing its products and content for U.S. consumers with the aim of creating an ecosystem experience akin to what Chinese consumers enjoy today. Letv's initial online streaming will offer a new outlet of mainstream Chinese content for millions of Chinese-speaking Americans. Letv will also begin partnering with or acquiring local companies to elevate its content to the world stage.

An Interconnected, Open Platform
Letv's open platform hosts partners' content alongside its own, seamlessly integrating with screens in and outside of its own network. The platform expands partners' reach both domestically and internationally while offering consumers a wide variety of quality content. Letv's ecosystem is open to new content, device and application partners to reach U.S. audiences. These initial partnerships include:

  • Content: Local media entities, production studios and large media companies can host content through the Letv ecosystem, expand their reach and engage with new audiences.
  • Devices: Consumer electronics (TVs, mobile devices, computers and tablets) as well as automobiles can plug into the Letv ecosystem to offer a wide variety of premium content to users.
  • Applications: Content partners can join Letv's family of applications that can be accessed through its app store and enjoyed across all six screens.
  • EUI (Ecosystem User Interface): TV producers, video creators and automakers, among others, can tap into Letv's ecosystem to offer users an entry point to Letv-owned and partnered content.

"In China, we have built a reputation around our applications, innovative hardware and massive library of high-quality streaming content," said JD Howard, VP and GM of International Mobile Business at Letv. "Entering the U.S. market, we'll focus on initial device and content offerings while continuing to build our U.S. ecosystem. This model is new to the U.S., but we have a blueprint for how this works and are actively looking for technology and creative partners to benefit from the strength of the full ecosystem effect."

Introducing the Letv Smartphone: Le Superphone
Letv's first smartphones, Le Superphones, are also being introduced in China today. They are developed with state-of-the-art materials and innovative new features that are all supported by Letv's unique content interface and ecosystem. The Le Superphone range is redefining the mobile experience for the connected age and offering consumers a better way to get the most out of their mobile devices. Le Superphones will be available in the U.S. later this year. Top product features include:

  • A Better Way to Plug In: Letv is the first smartphone to use a USB-C connection. This adapter is a flexible USB that charges faster and moves data more quickly, demonstrating Letv's ability and desire to lead smartphone innovation.
  • Exceptional Screen Experience: The Le Superphone screens offers a more dynamic color range than any other leading smartphone. Additionally, the screen allows consumers to adjust the color settings type to the setting of their choosing -- a smartphone first.
  • Enhanced Audio Controls: The Le Superphone range has industry-leading hifi, enabling unprecedented audio control for consumers. Combined with Letv's vast Chinese music ecosystem and its award winning headphones, the Le Superphone offers the best smartphone hifi-audio quality on the market.

About Letv
Founded in November 2004 by Jia Yueting, a celebrated pioneer in China's Internet landscape, Letv Group is committed to creating the "Letv Ecosystem," a next-generation Internet engine that is vertically-integrated to offer an online platform completed with content, devices and applications. The Group is engaged in a rich array of businesses, spanning from Internet TV, video production and distribution, smart gadgets and large-screen applications to e-commerce, eco-agriculture and Internet-linked super-electric cars, which were announced in late 2014. The Group comprises a number of subsidiaries, including Letv.com, Leshi Zhi Xin, Le Vision Pictures, Wangjiu.com, Letv Holding, Letv Investment Management and Le Mobile. In 2014, the aggregate sales of the Group amounted to approximately RMB 10 billion.

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