Business Intelligence on Retailing, Franchising, and Consumerism in China

Letv Starts Selling TVs In Hong Kong

China's announced that its super TV products have formally entered the Hong Kong market and the first batch of its 4K super TV X50 Air immediately sold-out after their launch.

Mo Cuitian, executive president of Letv's international business unit, said that the company will copy its marketing model from mainland China to the Hong Kong market.

As the first move in Hong Kong, Letv offered 100 limited beta edition TV products in this marketplace with the starting price of HKD5,187, which is about CNY4,107. Those products were reportedly sold out in two seconds. Those X50 Air super TVs are specially customized based on the viewing habits and viewing environment of Hong Kong users, and the user interface is also improved.

For contents, Letv will cooperate with Hong Kong local operator 3Home Broadband to launch a series of 4K home broadband entertainment contents. Meanwhile, customers who subscribe to certain contracted service packages will be able to gain the super TV for free.

According to Mo, due to the different copyright systems between Hong Kong and mainland China, Hong Kong users will not be able to view all Letv contents. However, the company plans to invest CNY300 million to purchase copyrights in Hong Kong and expects to gain 200,000 to 400,000 users over two years.

At the beginning of 2014, Jia Yueting, chief executive officer of Letv, said that the year 2014 was destined for Letv's global expansion. The company will copy its model, which integrates platform, content, terminal and application, to overseas markets. In July 2014, Letv set up two subsidiaries in Los Angeles and Silicon Valley, respectively, aiming to accelerate its global distribution. An insider from Letv revealed that apart from Hong Kong and US, the company also started expansion in Taiwan, Singapore, Canada, and Southeast Asia, followed by the European market.

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