Beijing-based LeTV Information Technology Co unveiled a new smart TV model Thursday in an attempt to boost its product lineup and grab more market share amid fierce competition from local rivals.

The company decided to launch the 50-inch S50 smart TV mainly because many buyers complained that LeTV's previous two models - the X60 (a 60-inch smart TV) and S40 (39 inches) - were either too big or too small, Liang Jun, a vice president with LeTV, said Thursday at the press conference in Beijing.

"The largest consumption of smart TVs, ranging from 48 to 50 inches, will be seen in 2014," said Liang, suggesting that the company has made an advanced step in this segment since more traditional TV makers and technology firms are rushing into the domestic smart TV market.

September was a month crowded with new smart TVs as several companies released their latest models. Internet search engine Baidu's online video provider iQiyi, in a tie-up with domestic TV maker TCL, released a 48-inch smart TV model called "TV+" on September 3, Beijing-based Internet firm Xiaomi Technology Co unveiled a 47-inch smart TV on September 5, and domestic e-commerce giant Alibaba jointly launched three smart TV models called "Coocaa" on September 10 with Shenzhen-based appliance firm Skyworth. Lenovo Group Ltd launched its smart TV strategy in 2012 and also unveiled smart TVs developed with Japanese company Sharp Corp in June.

Although LeTV has enhanced its product line by launching the S50, the company may still find it hard to attract more consumers from other rivals, as its TVs have no competitive edges over others in terms of online video content as well as price, Jia Jinghua, a Shandong-based independent analyst, told the Global Times.

In addition to the television price, consumers must pay an additional one-year content fee of 490 yuan ($80.10) to LeTV, bringing the total price of the S50 to 2,989 yuan.

The price is a little bit lower than iQiyi's TV+, costing 2,999 yuan, but LeTV's products cannot offer television programs without being attached to a set-top TV box, while iQiyi's TV+ can do so, said Xu Hao, an industry analyst with iResearch.

"Consumers who do not want to pay additional money for boxes are likely to choose iQiyi instead of LeTV," Xu told the Global Times Thursday.

Xu also noted that LeTV's distribution ability is not as strong as traditional TV makers, which will hinder its sales volumes.

The first 10,000 sets of S50 will be available only on the company's own online shopping platform, said LeTV. 

Zhang Zhiwei, vice president of LeTV's smart TV operation, said at the conference that the company will expand its sales channels gradually in the future, as production increases.

LeTV's CEO Jia Yueting said in a press release sent to the Global Times in September that the sales volumes of the company's smart TVs can easily reach 5 million units within three years.

According to data from Beijing-based China Market Monitor Co, after being released in July, both of LeTV's TV models - X60 and S40 - ranked first among models of their respective sizes from 16 mainstream TV brands, including Samsung, Sony and Skyworth, in July's sales.

If LeTV's TV unit could sell 1 million sets by the end of this year, the company is likely to arouse more attention from the capital market, said Xu.