LeEco and Coolpad conglomerate expected to sell 100 million phones globally

LeEco has purchased 11% of Coolpad’s shares, making it the largest shareholder, according to a deal announced on June 17. It bought the 11% Coolpad shares from Data Dreamland, the former largest shareholder of Coolpad, with 1.047 billion HKD (US$135 million). After the transaction, LeEco holds a total 28.9% of Coolpad’s shares and becomes the largest shareholder of China’s top four domestic mobile brands.

Before the deal, LeEco was Coolpad’s second-largest shareholder after it invested 2.74 billion HKD (US$353 million) in buying 18% of the latter’s shares last June 28...Read More