Leshi Internet Information & Technology, you might know it better as the Letv, which is now rebranded as the LeEco. Founded in 2004 by then-young entrepreneur, Jia Yueting, the LeEco is China's one of the largest technology company, which is engaged in a myriad of businesses that spans from Internet TV, to video production and distribution, manufacturing smart gadgets such as phones and TVs. In May 2015, LeTV released three smartphones under its own brand. The base model, the Le 1, is priced at 1,499 yuan, but subscribers with annual memberships to the video site get a 300 yuan discount. The company has teamed up with well-known Chinese movie directors to produce programs exclusively for its smartphone customers. While video streaming is gaining popularity in China, rights fees for popular TV programs and films are rising. LeTV is diversifying its business to shore up earnings and attract more members.