No matter how hard it is to crack India mkt, we'll try: LeEco

Chinese handset maker LeEco today said it sees India a highly important geography and will continue to make efforts to crack the market, even as the company grapples with cash crunch.
"India represents the future and its user value may surpass China in a few years. No matter how hard it is to crack the India market, we will try our best to grasp the opportunity there," LeEco co-founder and chairman YT Jia was quoted as saying at the company's investor meeting in Beijing.
Earlier this week, Jia had written to employees admitting that his technology empire is running out of cash and pledged to slash his income to 1 yuan (15 cents).

The company, which entered the Indian market earlier this year, currently sells smartphones and TV sets in the country.
It has also started assembling its handsets in India and is working on setting up a research and development unit as well.
The company has invested USD 10 million into establishing content delivery networks for providing in-built content to its TV and phone customers. Besides, it has also applied for a single brand retail license to open its own branded stores.
Jia said the company is keen to expand its ecosystems around the world with presence in Hong Kong, India, Russia and the US, where India is "on the priority list" of LeEco.