Thanks to the robust sales of its smart TV products, the revenue of China's LeTV increased last year, according to its initial earning estimate revealed on Sunday.

LeTV's (or Leshi Internet Information and Technology Corp.) most recent filing with the Shenzhen Stock Exchange revealed a total revenue of 13 billion yuan ($2 billion) last year - a nearly 91 percent jump compared with its revenue in the previous year. Meanwhile, the net income allocated to LeTV stakeholders jumped more than 59 percent year-on-year at 579 million yuan. Also, earnings per share increased 55 percent to 0.31 yuan.

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The company attributed the soaring revenue to the sales of its Internet TV devices, which hit the 3 million annual sales target. However, the company stressed that the report is still undergoing auditing before its final annual report will be released.

LeTV was founded in 2004 by Jia Yueting in Chaoyang District, Beijing, and was listed on the Shenzhen Stock Exchange with a total cap of over 100 billion yuan.

Recently, the company filed a lawsuit against Chinese web service provider Baidu on the grounds of unfair competition. The latter is being accused of blocking all advertisements while LeTV content is streaming online to users. LeTV is asking Baidu to stop the illicit competition and demanding a 1 million yuan ($153,400) compensation for the damages.

LeTV was initially established as a video streaming site but later took advantage of the abundant video resources to create TVs and smartphones. The company announced in 2014 that it will soon tap on the smart car industry.

TagsLeTV, china, smartphone maker, Shenzhen Stock Exchange