China’s LeTV moves into smart TV space

Chinese online video website LeTV will launch in the smart TV sector, releasing its own smart TV, Super LeTV, and investing 100 million yuan (US$15.8 million) into its TV business subsidiary, the Global Times reported.

LeTV already owns an Internet TV license and has experience in the set top box business, the Sept. 20 reported noted. Technology giants like Google and Microsoft have entered the smart TV sector, which they view as having huge potential; however, they haven’t seen much success so far. 

The company wants to profit from “Hardware + Contents + Sharing Revenues from Apps + Terminal advertisements,” TechNode reported Monday.

“By now, even the local TV manufacturers are having a hard time, a new player from a totally different area will surely face serious challenges,” Li Yi, chief director of the China Mobile Internet Industry Alliance, told TechNode.

If Web TV takes hold in China, even if LeTV isn’t successful, the shift would likely bode well for other online video companies in the country, especially Youku/Tudou, which is currently the top player in that space, TechInAsia explained.

Image: China Daily

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