New Delhi: LeEco has been recognised as "The Rising Star Chinese Brand" in the Chinese market according to the BrandZ Top 100 most valuable Chinese brands 2016 Report, the sixth annual ranking released on March 21 by the world's largest communications services group WPP and leading global research agency Millward Brown.
"The company has profited from creating 'smart connected businesses' using its platforms to offer new products and services that integrate it more deeply into people's daily lives," according to the report commenting on LeEco's brand value increase.
LeEco ranks on the 32nd number in the list of 2016 with a brand value of approximately $2.8 billion (approximately Rs 18,670 crore).
In terms of brand contribution, LeEco brand is valued at five, which is the highest score. Brand contribution is a measurement of a brand's uniqueness in the mind of the consumer and the impact of brand alone, without any other factors, or future earnings.
It is expressed as an index on a scale of one to five, with five being the highest.
The report concluded that in China, brand strength drives share appreciation, despite market fluctuations.
In January 2016 the stock market performance of the MSCI China index was down 10.7% on its 2010 level, while the share prices of the brands in the BrandZ Top 100 had gone up 43.1 percent over the same period.
During this period, Leshi Internet Information and Technology (Beijing) Corp., the Shenzhen listed subsidiary of LeEco, reached a peak market capitalization of approximately 150 billion RMB (approximately Rs 1.54 lakh crore).
In global market, LeEco is also rapidly garnering consumer appreciation and faith in a short span of time.
On March 17, LeEco bagged the "Most Promising Smartphone Brand" award in the TeleAnalysis Customer Satisfaction Survey.
The award was based on an extensive nationwide survey conducted by TeleAnalysis in the last three months. Sample size was around 12,000 with 3,000 consumers from each zone -east, west, north and south.
LeEco has launched two phones in India - Le 1s and Le Max. Within only February, LeEco had sold more than 200,000 Le 1s, the flagship killer device in India, making several industry records concerning flash sale quantity and time.
The company is planning to embed different types of contents to its Superphones and offer it to the phone buyers on a platter.
This initial "Device+Content" strategy adopted by LeEco in the world's second largest smartphone market has already garnered rave reviews starting from bloggers and gadgets freaks to common buyers.