Le TV Opens Two Subsidiaries in America
LOS ANGELES, July 14 - Le TV, the parent company of LeVision Pictures, has launched its strategy of entering the overseas market in Los Angeles Silicon Valley.
Besides America, Le TV also attempts to tap into the European market. JIA Yueting, President of Le TV said Le TV would implement a global strategy, planning to make Le TV an international brand.
“We have researched the American market for almost six months before we founded the two subsidiaries. The Los Angeles-based one will focus on internet and intellectual terminal and the other will specialize in the content production. Moreover, we have hired headhunters to build a proper team for our North American subsidiaries.” Jia said.
“Le TV must have the foresight to plan its future development and expand quickly so that it can gain more advantage than its competitors.” added Jia.
Le TV did well in the first half of 2014. It’s original goal was to sell 1 million Super TV sets, but now this number has been lifted to 1.5 million due to a good selling record in Q1. As to the LeVision Pictures with three films to release this summer, the box office of the recent OLD BOY: THE WAY OF THE DRAGON reached ¥25 million after the first day of screening, exceeding ¥100 million after 4 days.
“Le TV is facing great pressure in terms of capital for it haven’t financed on a large scale but in China the competition among different video sites is largely rely on the amount of money available. The good thing is, we don’t have any problem in cash flow so our production develops well.” Jia said.
Jia held China would be the most competitive country in the electric product industry. “It’s the time that Chinese internet hardware goes global. With the globalization, Le TV will be able to help Chinese enterprises be more competitive in the world. And I think there will be other Chinese companies to enter the international market besides Le TV.”
“The system of platform, content, a solid channel of TV sets and smart phone application is the edge of Le TV,” commented Jia. “After its success in launching Super TV, other companies begin to copy its model. We had prepared for a long time before we built the company. At first, it was not recognized and understood. Later, when it turned out successful, others began to imitate. But it’s not so easy in terms of calculating timing, collecting data and locating talent.” Jia said.