LeEco’s novel approach to product development centers on customer experience and the seamless provision of content, regardless of customers’ environment
MOUNTAIN VIEW, Calif. — December 6, 2016 — Based on its recent analysis of the smart technologies market, Frost & Sullivan recognizes LeEco with the 2016 North America Frost & Sullivan Award for Visionary Innovation Leadership. LeEco has set itself apart from the clutter by basing its innovation strategies on optimizing the user experience, creating a seamless connected ecosystem, and offering disruptive pricing. Its vision of connecting people and devices through affordable, high-quality products is driving its innovation efforts in areas such as mobile devices, connected cars, and connected homes.
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Despite the impressive strides made by technology, seamless connectivity across form factors and environments (cars, homes, work, and personal environments) remains a challenge. Industry fragmentation has compelled market participants to rely on strategic partnerships with complementary players along the value chain to deliver end-to-end offerings. LeEco is looking to resolve this issue by establishing a cross-functional ecosystem that allows seamless connectivity and a shared content experience in a variety of environments.
“LeEco’s vision of connectivity will transform the way consumers perform daily activities, consume content, and communicate,” said Frost & Sullivan Senior Industry Analyst Todd Day. “Its products and technology can fundamentally alter the creation, delivery, and use of content in multiple industries.”
LeEco’s novel software enables customers to share content from any of their smartphones directly with LeEco TVs by simply swiping in the direction of the TV. The same mobile devices can control the content and TV actions directly as well as conduct voice-controlled searches. While other ecosystems in the market provide some of these features, most of them need other HDMI devices to be connected to the TV.
LeEco is in a unique position to capture a significant piece of the connectivity market by driving an open, integrated approach through its cloud platform. It is already manufacturing virtual reality devices, connected bicycles, electric cars, and smart TVs and it continues to explore emerging device categories.
“Furthermore, LeEco acknowledges the importance of inorganic growth in a fragmented market and has aggressive expansion plans for the North American market,” noted Day. “It recently announced its intention to acquire VIZIO, Inc., a leading TV and sound bar manufacturer, for $2 billion to strengthen its intelligent hardware portfolio. With this deal, LeEco will have an opportunity to introduce a variety of premium smart televisions.”
As the electric car market continues to evolve, LeEco is set to expand its electric vehicle by establishing an electric car factory in China. The smartphone, tablet, and wearable space in North America is also ripe for sophisticated yet competitively priced products, which aligns well with LeEco’s value proposition. The user experience will continue to be the focal point for LeEco as it looks to expand its application scope to various markets.
Each year, Frost & Sullivan presents this award to the company that has demonstrated the understanding to leverage global Mega Trends and integrate its vision into processes to achieve strategic excellence. The award recognizes the efficacy of the recipient’s innovative process and the impact it has on business and society at large.
Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research.
About LeEco
LeEco is a leading global technology company that provides breakthrough experiences through its open, integrated ecosystem of streaming content, platforms, and smart devices that fit perfectly into a broad spectrum of lifestyles. LeEco opens new opportunities for consumers by offering a wide array of next-generation connected products – including smartphones, TVs, bikes and cars – and content spanning sports, film and live entertainment. LeEco was recently named one of Fast Company’s 2016 “Most Innovative Companies,” and Alphr’s “Best of Mobile World Congress – Most Innovative Company.” To learn more, visit www.leeco.com and follow on Facebook and Twitter.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.
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