According to data from the Beijing Administration for Industry and Commerce, Letv has registered a new company named Letv Mobile Smart Information Technology (Beijing) Company Limited, with registered capital of CNY20 million.
The business scope of this new company covers production and development of mobile phones and sales of communications devices, electronic products, mechanical equipment, and automobile parts. With this move, Letv's mobile phone business enters a substantive stage. The addition of automobile parts as its business scope points to perhaps the building of GPS-enabled driving device development.
Letv Mobile has three major shareholders: Letv.com, Letv Holding, and the group's TV business subsidiary.
Prior to this, Letv hired several executives within the mobile phone industry, including former Meizu vice president Ma Lin and former Meizu vice president for marketing Mo Cuitian. The company is hiring more staff, covering Android development engineers, UI visual designers, and product managers.
Letv's mobile phone product may be released before the end of 2014, with video resources as its major feature.