Le 1s, the new flagship smartphone from LeTV, is retailing for 1,099 yuan (US$173) in China but costs over 1,300 yuan to produce per unit, the company said. Photo: LeTV

Free metal jacket: China’s LeTV giving away Le 1s smartphone to loyal subscribers of its video-streaming services as hardware takes back stage

Company says even retail price of 1,099 yuan is below cost; expects to profit from combination of fixed contracts and migration of customers among various services

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Le 1s, the new flagship smartphone from LeTV, is retailing for 1,099 yuan (US$173) in China but costs over 1,300 yuan to produce per unit, the company said. Photo: LeTV
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