LeTV Sports aims to overturn bicycle industry

On March 27th, China North Int’l Bicycle & E-Bike Exhibition was opened, at the same day, LeTV announced that, its subsidiary LeTV Sports, Leie Intelligent Technology Co., Ltd. and a leading company in bicycle industry, would form a joint venture and launch smart bicycles, symbolizing its official march into bicycle industry. LeTV intended to lead the industry revolution through a dynamic integration of events operation, content platform, smart products and value-added services. 

According to a source, LeTV Sports funded 50% of the total investment for the new joint venture, Leie Intelligent Technology Co., Ltd. funded 10%, and another bicycle company funded 40%. The new company has the competitive ability to face the market independently, which lays the foundation for its independent operation and elevation of shareholder value. Furthermore, it will exert all power in the field of intelligent bicycle and aims to subvert traditional bicycle industry.

“Internet+” is one of the hottest words in China at the moment. Half a year ago, the documents issued by the State Council arouse concerns of the whole society on the issue of development of sports industry. For the operation idea of LeTV Sports Company, it became star enterprise, which was considered as one of the enterprises that has the potential to burst out with the help of situation of sports industry.

“After Super TV of LeTV, smart bicyble will be another subversive product. What we want is not simple production of bicycle but a systematic service. In 2014, LeTV Sports acquired a large number of copyrights with high quality, including F1 and Premier League, which attracted a large quantity of clients. The point is how to convey those contents and service more comfortably for we want our consumers could get the best service,” Peng Gang, president of Leie Intelligent Technology Ltd., Co. said.