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China's Coolpad, LeEco seek 100m smartphone sales a year

HONG KONG -- Chinese smartphone maker Coolpad Group aims to sell 100 million units annually within two years together with Beijing-based partner and media company Leshi Internet Information & Technology, or LeEco.

The sales target set Tuesday would be four times the aggregate total for the two companies in 2015, and it would boost their combined Chinese market share to third place behind leaders, including Huawei. LeEco, a provider of online videos, also sells smartphones under its own brand. The partners plan to sell 50 million to 60 million smartphones this year.

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