Home Retail LeEco breaks record with second Super TV flash sale, triggers price war

LeEco breaks record with second Super TV flash sale, triggers price war

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Chinese internet and technology conglomerate LeEco on Tuesday achieved an industry record by garnering a sales order of 4,600 Super3 X55 TVs — 20 times higher than the industry per-day average sales in the 55-inch and above segment.

LeEco touches Rs 350 crore during festive sales
LeEco participated in online sales organised by LeMall, Amazon India, Flipkart and Snapdeal.

The feat was achieved on the second flash online sale that saw LeEco SuperTVs being swept off the shelves within three minutes of the start, the company said in a statement.

LeEco sold over 1,500 units of Super3 X55 TVs during its first flash sale on August 26.

“With these two flash sales of Super3 X55, we have broken a sort of records when it comes to TVs in 55-inch and above segment,” Atul Jain, COO, smart electronics business, , told IANS.

“We have surpassed existing industry records and created new ones. The user response reflects how well have the Indian users transitioned to the ecosystem-enabled TV era that LeEco has pioneered in the country,” Jain added.

LeEco Super TVs comes bundled with LeEco Membership for two years that worth Rs 9,800.

Through this membership, users can get access to one of the largest content libraries in India that offers over 2,000 Full HD/HD films from Hollywood and Bollywood, more than 100 satellite TV channels and more than 50 live concerts.

“The way things are, we will pretty soon hit the No 1 brand in India,” Jain told IANS.

In its first flash sale on August 26, LeEco managed to sell over 1,500 units of Super3 X55 TVs in the first three minutes.

Price War

LeEco – which has already tasted success in India with similar disruptive pricing in smartphones, selling one million units since February – is selling its Super TV at disruptive prices. Super3 X55 – 139.7 cm (55) is for Rs 59,790, LeEco Super3 X65 – 163.9 cm (65) is priced at Rs 99,790 and Super3 Max65- 163.9 cm (65) comes at a price of Rs 149,790.

The company currently sells the TVs through Flipkart and its own e-store but they will be available in brick-and-mortar stores by the year-end. It also has plans to enter the 40, 43 and 50-inch segments with disruptive pricing.

According to a report in The Economic Times: Videocon will cut the price of its new 55-inch model by almost Rs 20,000 to bring it closer to the LeEco price besides building a portfolio to fight the Chinese brand.

BPL is planning a launch with similar specifications around Diwali in October while Micromax is evaluating how to expand its price-warrior strategy in the large-screen segment, three industry executives said. 4K denotes a high-resolution panel of 4,000 x 2,000 pixels and while programming in the format is sparse, it’s a big draw for early adopters with wall space to spare at the LeEco price, analysts said.