LeEco's CEO Jia Yueting becomes Coolpad chairman ahead of Cool 1 launch

LeEco CEO Jia Yueting is now the Chairman of Coolpad's board, this comes in the wake of LeEco acquiring 11% more stake in the company, making it the largest shareholder at 28.9%.

Both companies will together launch the Cool 1 flagship in Beijing China on August 16 which comes with dual-rear cameras, fingerprint sensor, metal build. It is rumored to run on the Snapdragon 820 quad-core processor with 5.5-inch Quad-HD display, 4GB RAM and Android Marshmallow based EUI.

LeEco and Coolpad with exist together as separate brands with a different product portfolio. At present present there is no word on when or if the Cool 1 will be launched in India, but Coolpad does have a launch event tomorrow in India where the company is expected to launch a selfie focused smartphone, possible the Sky 3.