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LeEco Puts Coolpad Under Its Belt: Becomes Largest Shareholder

by Habeeb Onawole 5

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 !