Letv (Chinese: 乐视, traditional Chinese: 樂視, pinyin: Leshi) is one of China’s biggest and fastest growing Internet companies.
Letv delivers world-class content and experiences across platforms, smart devices and applications — including all six screens: mobile, tablet, TV, cinema, computer and electric car. Founded in November 2004, Letv is powered by the "Letv Ecosystem," a next generation Internet engine that is vertically integrated to offer an online platform completed with content, devices and applications.
Letv Group is engaged in a rich array of businesses, spanning from Internet TV, video production and distribution, smart gadgets and large screen applications to e-commerce and Internet linked super electric cars, which were announced in late 2014.
The company employs more than 5,000 people and is listed on the Growth Enterprise Market in China with a market capitalization of more than $12 billion USD. It has a large variety of products and services connected to its Ecosystem User Interface (EUI). Letv’s products include smart TVs, smartphones and soon electric cars. Additionally, Letv has video production and distribution services and large screen applications for e-commerce.
|Industry||Consumer electronics, Video streaming|
|Founded||2004 (Beijing, China)|
|Products||Letv.com, Smart TV, Le Visual Production|
Letv is a technology company that delivers media for the connected age. Founded by Jia Yueting in November 2004, the company is focused on its vision to create a seamless content experience that connects across every part of peoples’ connected lives. Letv does this through the "Letv Ecosystem," a next generation Internet engine that is vertically integrated to offer an online platform complete with content, devices and applications. To build and enhance the Letv ecosystem, new offices have been established in the United States, integrating the innovation of Silicon Valley, the creativity and media of Los Angeles and the practical application and development of Beijing. Letv is engaged in a rich array of businesses, spanning from Internet TV, video production and distribution, smart gadgets and large screen applications to e-commerce, eco-agriculture and Internet connected electric cars.
Jia Yueting is the chairman, CEO and founder of Letv. He is an admired entrepreneur in China, well known for his contributions to the Chinese media and creative industries. Prior to founding Letv, he founded Shanxi Xi Bei Er Communication Technology Co. and Xbell Union Communication Technology (Beijing) Co., which was listed on the mainboard in Singapore Exchange in 2007. He founded Letv.com in November 2004, and the company went public on the Shenzhen Stock Exchange in 2010 with a total market value of 30 billion RMB. Since then, he’s expanded Letv properties, including founding Le Shi film corporation in 2009, Wangjiu.com, the first e¬commerce website versed in high-¬end wines in China, in 2011, and Le Shi Zhi Xin Electronic Technology in 2012, which is responsible for some of Letv’s best known products, including the Le Shi set top box and Super TV.
Products and Services
Letv has a large variety of products and services connected to its Ecosystem User Interface (EUI). Letv’s products include smart TVs, smartphones and soon electric cars. Additionally, Letv has video production and distribution services and large screen applications for e-commerce.
Letv.com is Letv’s online video streaming site, the biggest online content licensor and distributor in China. In 2014, daily unique visitors to letv.com averaged 47 million, peaking at 70 million. Daily page views averaged 240 million, peaking at 300 million. Daily video views averaged 260 million, peaking at 320 million. According to comScore, letv.com was ranked second in monthly browsing time for video streaming websites. It ranked third among video websites in China in unique video viewers (with a total of 188 million).
Le Visual Production
Le Visual Production (LeVP) is Letv’s production company. LeVP ranked third in overall box office in China in 2013. Letv has amassed China's largest resource library of copyrights, with over 100,000 TV series and 5,000 films. Le VP is also known for its offline marketing/distribution network in China, covering 108 cities and 1200 theaters, comprising 85% of total market share. Letv holds the record for highest overall viewership in online video history, garnering more than 3.5 billion views of “Empresses in the Palace.” The co-invested and co-distributed “Expendables” film series earned over $163 million at the box office in China, shattering the Hollywood co-production box office record.
Letv Smart TVs
Letv produces smart TVs that are fully integrated into its EUI experience. Letv’s smart TVs have reached nearly 10% of Hong Kong market share and single model sales have beaten Samsung, Sony and other Japanese and Korean smartphone brands. The Letv Store offers more than 3,000 TV-customized apps spanning categories from gaming and entertainment to lifestyle and utility. One of every four TV sets sold online in China is a Letv smart TV.