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LeEco Puts Coolpad Under Its Belt: Becomes Largest Shareholder

by Habeeb Onawole 1,777 views5

Chinese media giant, LeEco has bought more stake in Coolpad Group Limited becoming the company’s largest shareholder. LeEco which used to have 18% of the total stakes after injecting about $350 million into the ODM back in 2015 have now bought an additional 11% stake putting them in the controller’s seat.

Colpad+LeEco 1

LeEco has mentioned that this new development will not affect the operations at Coolpad but will see both companies partnering on future projects. The acquisition will possibly favour LeEco a lot as Coolpad is one of the largest ODMs (original design manufacturers) in China with clients like India’s Micromax, therefore reducing manufacturing costs for future phones.

Coolpad+LeEco 2 jpg-hm

LeEco has teased a couple of posters which might be hinting at a new product in the not too distant future or a different thing entirely. We can’t say for now. But we’ll let you know once we get more details.

RELATED: Helio P20 Coolpad Device Spotted on GFXBench

Big Question: Since LeEco now has control of Coolpad, what happens to the latter’s offshoot phone company, Ivvi?

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  • Karly Johnston

    So that is where Micromax crap comes from. LeTV needs to do a deep quality control audit at all of their facilities if they want to be a big player.

    • Muhammad Yasir

      agreed

    • Riccardo Benzoni

      no, only some micromax products (canvas nitro and the yureka, the ones I remember) are made from coolpad, the rest are low tier products. Coolpad is one of the best in the quality of their products, LeEco is not stupid.

      • Hakim Farouk

        Yeah, not all the models by Micromax came out from Coolpad. In fact, the ones that are from Coolpad are the decent ones.

  • Muhammad Yasir

    Ivi was shit af , close that crap down and focus on developing CORE products !