Brands
Le Eco’s Atul Jain: It’s not just marketing, it’s creating an entire ecosystem
MUMBAI: A late entrant in the market, Chinese smartphone and screen manufacturer LeEco, previously called LeTv, has already created waves with its aggressive approach for the Indian market, and has given existing players like Xiaomi and Samsung a run for their money. Industry insiders unanimously agree that LeEco has disrupted the entire smartphone business in the country, and perhaps even redefined it. After launching its first product in India in January 2016, the company has already broken all records for online smartphone sales and bagged the ‘online top-selling’ tag for its flagship product Le 1s, having sold over 200,000 Le 1s in just 30 days!
And why not? The company has set itself a target to be the number one online smartphone player in the next five months. It doesn’t take a scientist to guess that a feat like that would be impossible without a sound and efficient marketing strategy to back the brand with. Ask LeEco India Smart Electronics Devices COO Atul Jain about what the secret is behind the brand’s success and he says “It’s the ecosystem that we create.”
As per Jain, the ecosystem LeEco strives to create in India works on four different parameters – devices (smartphones and screens), content, cloud and platforms.
“For now we have introduced our devices in the form of the smartphones that boast of breakthrough technology supported by disruptive pricing. We are also working on building the ecosystem and will be able to provide the same from quarter two (Q2) onwards of coming financial year,” says Jain. The brand also plans to enhance its screen presence by bringing in what it calls a ‘super TV’ by Q2.
On the content side, LeEco has already partnered with over-the-top content provider YuppTV led by Udaynandan Reddy and the Sunil Lulla led Eros International. “We are striving for many more partnerships with Indian media houses in the upcoming months,” Jain reveals. “We are also looking at building a huge content library, be it through partnerships, acquisition or self-produced content,” he adds. It is to be noted that the company has presence in the media in China through Le Movies, its own production house.
“From a cloud network perspective, we have already introduced content distribution networks (CDNs) in Delhi and Mumbai, and are looking to expand it to ten more cities. LeEco already has 650 CDN networks through the cloud across the world,” explains Jain. “This is in compliance with LeEco’s Chinese model of strengthening its delivery network to boost the smartphone business and maximise profit.”
Jain shares that outside China, India and the US are the top two biggest markets in focus for LeEco for this financial year. “We have plans for other APAC countries like Indonesia, Singapore and Malaysia, but our biggest business expansion is going to happen in India and the USA.”
Entering the market this late and establishing a formidable presence wasn’t an easy task for the Chinese technology giant. “We were quite unknown in India even six months ago. To create the awareness around the brand was the biggest challenge. The go to market strategy, setting up a team here, were some of the initial challenges.” Jain explains that instead of being bullish about a strict marketing plan, they kept their eyes open for what the consumers wanted, understanding their needs and translating that into products. “In our case we looked at bill of materials (BOM) pricing and that was very attractive for the consumers. “That becomes very critical when you market to a new place. Secondly, we paid attention to creating awareness about the brand through all the media available to us, and that was relevant to the product, that is, social, digital, and even offline presence through retail stores,” he says.
Perhaps the biggest boost to sales was the flagship campaign ‘LeEco Day’, wherein consumers enjoyed extremely lucrative offers and prices on the smartphone. It must be noted that several other smartphone brands, including Freedom 251 also went the ‘disruptive’ prices route to meet a completely different and disappointing end.
Explaining LeEco’s mass media plans, Jain says, “LeEco is also looking at being present in radio, and television advertising isn’t ruled out either. While a substantial chunk of the company’s marketing spends are directed towards digital, moving forward Le Eco will have good spends in television and print as well. Around 30 to 40 percent of the brand’s marketing spends would be towards digital, and the balance split between print, OOH and television.”
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
