LeEco to launch a sub Rs. 8,000 smartphone with premium specs in India soon: Report
LeEco to launch a sub Rs. 8,000 smartphone with premium specs in India soon: ReportIBTimes India/Sami Khan

Flipkart kicked off Monday its three-day Big Shopping Days Sale. Among several deals on cameras, TVs and other electronics, smartphones took centre stage with compelling offers. Part of the sale is LeEco's Le 1s, which would be available without registration and an exchange offer that could reduce it's price to less than half the original.

The Le 1s smartphone, which has proven to be quite popular with budget smartphone shoppers in India, will be available for as low as Rs 4,999, considering buyers get the maximum exchange value of up to Rs 6,000. The exchange value is determined based on the make and model of the functional device with which the smartphone is being exchanged.

"The response for our flagship killer Le 1s has been overwhelming from Indian consumers," Atul Jain, COO, Smart Electronics Devices, LeEco India, said in a statement. 

Buyers can get instant value for their old smartphone by entering the make and model of the phone. Premium smartphones like Apple iPhone 5 and Samsung Galaxy S5 fetch the maximum discount of Rs 6,000, while Flipkart lists several other brands and their handsets. The validation and collection of the old smartphone would be done while delivering the Le 1s.

If buyers are not looking to exchange their old smartphones, Flipkart is offering an additional 10 percent off on purchase of the Le 1s using SBI debit or credit cards, which reduces the price by Rs 1,100, to around Rs 9,990.

Considering an ideal scenario, if buyers get the maximum Rs 6,000 exchange value, the Le 1s will cost just about Rs 4,999.

Flipkart Big Shopping Days Sale is offering LeEco's Le Max smartphone for as low as Rs 16,999, when an exchange bonus of up to Rs 20,000 is added. The 10 percent off on SBI transaction is valid on the Le Max's purchase.

The offers are valid only during Flipkart Big Shopping Days Sale from March 7 to March 9, 2016.

How does the smartphone exchange system work on Flipkart?

During the SURGE event in Bengaluru last month, Malobi Banerjee, an executive at the Flipkart booth, explained how the exchange process works. She said the online retailer mandatorily requires a valid IMEI number for the phone, and its make and model to be accepted for the exchange programme. Flipkart does not consider phone's accessories, including the box and the bill, vital for its exchange programme, she said.