Innovation Works Completes Investment in LeTV Smart TV
Beijing Business Today, 11/15/12
Beijing-based incubator Innovation Works has recently completed its investment in Chinese online video site LeTV's (Leshi) (300104.SZ) independently operated TV and STB developer and retailer subsidiary, Leshi Zhixin Electronics Technology, officially becoming a shareholder in the company. LeTV has not revealed the amount of the Innovation Works investment or the percentage of shares Innovation Works now owns in the company. In addition to investment capital, Innovation Works also plans to provide application support for LeTV's new smart TV product, the "LeTV Super TV", and LeTV's set-top box (STB).
Industry sources have also revealed that Leshi Zhixin will be responsible for the R&D and marketing of LeTV Super TV's hardware, system software, and user interface.
Editor's Note: For more background on this topic, please see "LeTV Spins Off Internet TV Subsidiary" MD 8/22/12 issue and "Innovation Works Invests in LeTV Smart TV" MD 9/24/12 issue.
Keywords: Internet investment television LeTV Internet TV set-top box Innovation Works 300104.SZ smart TV Leshi Leshi Zhixin
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