LeTV Mobile, which has released four smartphones this year, raised the cash from four undisclosed investors and will put the money towards expansion.
The smartphone unit of China-based media group Leshi Internet Information and Technology (LeTV) has raised $530m from four undisclosed investors, China Money Network reported yesterday, citing an internal letter.
Founded in 2004, LeTV’s core business is its online video streaming platform, but it has since branched out into a range of areas including hardware such as televisions, cars and smartphones with an eye to building out a technology ecosystem.
The unit, LeTV Mobile, has so far released four phones and…
