Online video platform LeTV (300104.CN) plans to launch its service in Hong Kong as soon as the third quarter of this year, Ming Pao Daily News reported Friday.
The company is also set to introduce its new 50-inch 4K TV set in the city for as low as HK$3,750 (US$483.71) per unit, according to the newspaper.
Initially, the company will offer mainly entertainment content, including popular Korean TV drama series such as “My Love from the Star”, and Hollywood movies at HK$51 per month for its TV users and HK$18 per month for online subscribers.
Customers will be required to sign up for a two-year and one-year service contract, respectively.
The move is expected to stir up competition in Hong Kong’s pay TV market, which is currently dominated by Cable TV and nowTV, analysts were quoted as saying.
LeTV vice president Tin Mok said he is confident Hong Kong people are willing to try out new products that meet their needs, even if they come from the mainland.
The operator currently has a video content library of around 15,000 titles, one-third of which could be broadcast out of China, aside from its rights to broadcast European football and NBA basketball games live over the internet.
It will not be required to apply for any license if its content service is provided via the internet, a spokesperson of the Office of the Communications Authority was quoted as saying.
LeTV will also explore cooperation opportunities with local TV stations for more localized content, the report said.
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