LeEco to invest $7 million for local manufacturing

Chinese tech giant LeEco is the latest company to join India's Make in India program. The company has tied up with electronics manufacturer Compal electronics to set up smartphone manufacturing plan in Greater Noida.

LeEco has invested $5 million to setup the plant and $2 million for the automation process at the facility, taking the total investment to $7 million.

The new manufacturing facility is spread over an area of 200,000 sq. feet and has a capacity of producing 60,000 phones per month initially. LeEco plans to rapidly ramp up the production to approximately 200,000 phones per month by the end of this year.

Manufacturing smartphones locally means that LeEco will be able to price its devices more competitively.

LeEco which made its debut in India earlier this year in January claims to have sold over one million smartphone in under eight months. So far, the company has launched Le 1s, Le Max, Le 1s Eco, Le 2, Le Max 2 smartphones in the country. The company also introduced LeEco membership of content and internet services, e-commerce platform LeMall and range of Super TVs as well.

LeEco is going to celebrate its one million sale milestone in the country from August 30 to September 1with 'Le Million Joy' package under which, it will offer discounts and offers on its products on Flipkart and LeMall.