LeEco Becomes Largest Shareholder of Coolpad

LeEco has purchased 11 more shares of telecommunications equipment company Coolpad to become its largest shareholder.

LeEco also bought the shares from Data Dreamland, the former largest shareholder of Coolpad, for $135 million.

Now LeEco currently holds a total 28.9% of Coolpad's shares and have become the largest shareholder of China's top four domestic mobile brand.

According to the company, the integration would help Coolpad's products to align with LeEco's ecosystem model platform, content, terminal and application.

This link-up would also allow the LeEco's ecosystem model to integrate with Coolpad's near-billion intelligent terminals within a very short time helping the company boost its sales in North America, Europe, Asia and Africa.

LeEco would also ingrain its ecosystem model into Coolpad's smart devices, 50 per cent of which could be converted to LeEco's ecosystem-based users.