LeEco has recently become Coolpad's largest shareholder and both companies went to work right away. Less than two months from the stake acquisition, the companies have announced that their first smartphone is in finishing stages and should be announced very soon.

The result of the cooperation between LeEco and Coolpad will result in a high-end handset according to a teaser image released on Coolpad's official Weibo account. The teaser also confirms the phone will be called Cool1 and will sport dual rear camera setup.

Alongside official teaser, another image leaked online, offering a glimpse of back of the phone with a metal body. There will probably be a fingerprint sensor at the back, which can't be seen on the image. It is also rumored that the Cool 1 will have both LeEco's EUI and Coolpad's CoolUI on top, so users will have to decide which one they will use. The Cool 1 is rumored to be unveiled on August 10.

Cool1 rumored specifications

5.5-inch QHD (2560 x 1440 pixels)

Qualcomm Snapdragon 820 processor

4GB of RAM, 64GB of storage

Android 6.0 Marshmallow

Fingerprint scanner

3,500 mAh battery