Letv and Letv Sports invested 15 million RMB in Edoon

Letv lately announced they would make a joint investment, valued at 15 million RMB, with Letv Sports into Edoon.com, a Beijing-based mobile application developer.

According to the announcement Letv and Letv Sports would offer 10 million RMB and 5 million RMB respectively.

Edoon GPS APP, delivered by Edoon, is a smart mobile application which tracks data of users’ movements and has been accessible for iOS, Android, and Windows Phone users.

The application can be used to connect mobile devices with smart devices including watches, treadmills or even the upcoming Letv Super bicycles.

The investment will see Letv Sports, currently an independent venture of Letv, enhance its presence in smart devices market. As reported earlier, Letv Sports has established partnership with 361 Degrees, a Chinese sportswear provider.

Letv Sports and Edoon will work together to present more comprehensive products to users in the future, said Lei Zhenjian, the CEO of Letv Sports.