© Pau Barrena/Bloomberg via Getty Images
© Pau Barrena/Bloomberg via Getty Images

NEW DELHI: Chinese tech firm LeTV is planning to “build up a presence” in India to tap one of the fastest growing markets for smartphones and other smart devices.

The Beijing-headquartered LeTV, a manufacturer-marketer of smartphones and other smart devices, has recently set up operations in the US and intends to enter India.

“Most people in India probably haven’t heard of LeTV yet, but indications are that LeTV would soon build up a presence here to tap into one of the fastest growing markets for smart phones and other smart devices, with plans to start selling its streaming service and devices,” a company release said.

The company with an employee strength of 5,000 has a market capitalization of around $12 billion on the Shenzhen Stock Exchange.

LeTV’s core streaming business has built up a library of more than 1,00,000 TV series and 5,000 movies. It has also started making its own premium smart TV to stream its content and beats out stalwarts like Samsung and Sony in the Chinese market.