LeEco CEO Jia Yueting is now Coolpad’s chairman, Cool 1 coming on August 16


LeEco CEO Jia Yueting

LeEco has announced that its  Founder, Chairman and Chief Executive Officer (CEO) Jia Yueting has become the Chairman of the Board and the Nominating Committee of Coolpad . This news comes after LeEco acquired 11% stake of the telecommunication equipment vendor Coolpad, to become its largest shareholder with a total of 28.9% stake.

LeEco Coolpad Cool1

Both the companies will jointly introduce a new smartphone called the Cool 1 on August 16 at an event in Beijing, they confirmed on weibo . The smartphone will come with dual rear cameras and feature a fingerprint sensor on the back. The phone is rumored to pack a 5.5-inch Quad HD screen, powered by a  Snapdragon 820 processor, come with 4GB of RAM and 64GB of storage, run Android 6.0 Marshmallow and pack a 3,500mAh built-in battery. It also surfaced on TENAA recently.

Cool1 launch invite

Jia said LeEco and Coolpad will adopt a dual-brand strategy, where the two brands co-exist and target at different market segments. The two will also collaborate extensively in resources sharing, business development as well as technology research. The dual-brand strategy will be applicable to LeEco and VIZIO as well for the development of TV ecosystem, following the US$2 billion acquisition of the pioneering American TV manufacturer on July 26th.

LeEco said that it has sold 700,000 units in India in six months. LeEco said that the Cool 1 smartphone is designed for the youth generation.


Author: Srivatsan Sridhar

Srivatsan Sridhar is a Mobile Technology Enthusiast who is passionate about Mobile phones and Mobile apps. He uses the phones he reviews as his main phone. You can follow him on Twitter and Instagram