On December 26, LeTV, which had remained quiet for half a year, finally made a comeback with exciting news. The company launched ten new TVs in the "New and Lean" series at the Beijing New Product Launch Conference. Prices ranged from RMB 1,899 to 5,939 for screen sizes between 40 and 65 inches. What stood out about this launch was its focus on affordability and user experience, differentiating it from previous strategies used by other brands. According to Nail Technology, the main goal of this move was to rebuild consumer confidence, restore trust among upstream suppliers, and attract potential investors for future growth.
Despite LeTV’s renewed efforts in promoting its television products and its ambition to reclaim its position as an industry leader, many industry observers remain skeptical. Nail Technology outlines three key factors that could support LeTV’s comeback.
First, investors are not abandoning LeTV’s core business. In January 2017, Sun Hongbin invested 16.8 billion yuan into LeTV just before the Spring Festival, a significant move that aimed to stabilize the company. Although this investment couldn’t fully cover LeTV’s financial gaps, Sun Hongbin continued to support the brand. Following Yizhu’s departure, LeTV underwent a major restructuring, including a rebranding to “New LeTV,†aiming to distance itself from the negative impact of the Jia Yueting brand.
Second, Sun Hongbin’s initial investment focused on core assets such as LeTV and its TV business. These resources were crucial in supporting the company’s operations. With Liang Jun now serving as CEO, the new LeTV has placed greater emphasis on television as its central business. This shift has allowed the company to better leverage its strengths in the smart TV market.
Additionally, there were rumors earlier this year that LeTV would stop TV production after splitting from Foxconn. However, Sun Hongbin denied these claims, expressing confidence in LeTV’s future and outlining plans to build a new ecosystem in the TV and entertainment industry.
In summary, the new LeTV is focusing on integrating its core assets to ensure long-term stability and growth. While the TV business remains central, the question remains: can this strategy truly revive the brand?
Second, the strategic foundation of the new LeTV appears more stable. After several adjustments, the company has refocused on user experience, adopting a “platform + terminal + content†model. By concentrating on large-screen devices, LeTV aims to create a smart home entertainment system centered around its smart TVs.
In the era of smart TVs, companies like LeTV and Xiaomi have rapidly entered the market. According to Ove Cloud Network data, LeTV sold approximately 6 million TVs in 2016, leading the internet TV sector. Manufacturing such products is costly, especially for a company facing severe cash flow issues. However, LeTV's TV business has remained relatively unaffected, and according to Nail Technology, it is expected to become a key pillar for future growth.
Third, the business foundation still holds strong. Despite being involved in a debt crisis, LeTV maintains operational capabilities, supply chain support, and technical expertise in its TV division. Recent product launches, including various models of smart TVs, demonstrate this strength.
From an operational perspective, LeTV has shifted from a money-burning model to a more sustainable, business-oriented approach. From a supply chain standpoint, though some suppliers have reduced their support due to financial concerns, LeTV has managed to maintain its operations. Technologically, LeTV’s 2016 TV lineup, including the 4K HD series and uMax models, is competitive with traditional TV manufacturers.
However, the biggest challenge remains funding. At the beginning of the year, Sun Hongbin highlighted the financial difficulties at a press conference. Additionally, LeTV’s brand image has been negatively impacted by the Jia Yueting controversy and a deepening debt crisis, which has led to doubts about product quality.
Despite these challenges, LeTV is actively working to rebuild its brand. Production is gradually recovering, and efforts to restore the supply chain are underway. The new leadership has also been engaging with logistics and service partners to strengthen post-sale support.
In conclusion, while many obstacles hinder the development of the new LeTV, the lack of funds remains the most critical issue. Although the company’s business foundation is still intact, without quick financial relief, core operations may suffer.
Nail Technology believes that the TV business is still at the heart of LeTV. As market conditions improve, the new LeTV may make a comeback, but the path will be challenging, and growth is unlikely to return to the levels seen in 2014-2016.
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