Jia Yueting will now be the Chairman of LeEco and Coolpad

The key player of LeEco Jia Yueting, CEO and Founder will also be the Chairman of Coolpad. Yueting is now the CEO of leading Chinese Smartphone maker Coolpad. Initially, the Company (LeEco) bought 11 percent of Coolpad shares.

Suddenly, Coolpad stock makes an upward move and Jia became the largest shareholder with 28.9 percent stake. Both the leading Chinese companies will release a new Smartphone namely Cool 1 on 16th August at Beijing.

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Yueting, already emerging into the markets of India and China and LeEco is expecting with this collaboration “COOL 1” smartphone is supposed to take 50 – 60 million units. LeEco is aiming to be the top Smartphone manufacturer and supplier in next year annual sales by 100 million handsets.

“LeEco and Coolpad will adopt a dual-brand strategy where the two brands co-exist and target at different market segments. The two will also collaborate extensively in resources sharing, business development as well as technology research,” Yueting said in a statement.

You can see the promotional poster of Cool 1 which is set to release on 16 August.

Jia Yueting

LeEco always makes a strategic move which has sold 700,000 units in just six months in India and now very soon entering with Super tvs. LeEco also collaborated with VIZIO, a US consumer brand for developing complete TV ecosystem and LeEco acquired VIZIO with $2 billion.

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The Rumoured Specifications of LeEco and Coolpad’s COOL 1 comes with the dual rear camera with 5.5-inch Quad HD display screen. It is equipped with 4 GB RAM and 64 GB inbuilt memory. It runs on Android v6.0 (Marshmallow) operating system adding Snapdragon 820 processor to it. A non-removable battery with 3500 mAh will fire up the device.

LeEco and Coolpad are confident enough that Cool 1 specially made for youth generation and it will reach the Smartphone market vastly and expected sixty million units’ sales.

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