Vizio has sued LeEco over failed merger between two companies. The U.S. based television maker is seeking $60 million in damages, claiming LeEco paid only $40 million of a $100 million termination fee.
Continue reading “Vizio files lawsuit against LeEco over failed merger”
A Shanghai court has frozen assets and shares of LeEco chairman Jia Yueting due to unpaid debts, according to a latest report from the New York Times. The court has reportedly frozen 1.2 billion yuan ($180 million) in assets owned by co-founder Jia Yueting, his wife Gan Wei and three subsidiaries.
Continue reading “LeEco chairman’s assets and shares frozen by Chinese court over unpaid debt”
LeEco is slashing 70 percent of its US workforce or 325 employees, according to a latest report from CNET. These job cuts comes after the company announced its plans to release phones and a video streaming service in the U.S. The Chinese smartphone maker is slashing jobs due to lack of funding.
Continue reading “LeEco cuts 70 percent of its US workforce due to lack of funding”
LeEco has fired 85 percent of its employees in India and is said to be looking to exit the country, according to a new report from The Economic Times. The latest news comes four months after the Chinese smartphone maker confirmed it is facing a major financial crunch.
Continue reading “LeEco may exit India, top executives resign and 85% staff reportedly fired”
Huawei’s brand Honor launched the Honor 6X smartphone with dual camera setup in India a few weeks back. The Honor 6X sports a 12-megapixel camera with LED flash and a secondary 2-megapixel for achieving the depth of field and background blur. It comes in gold, silver and gray colors and starts at Rs. 12,999.
Continue reading “Honor 6X vs Coolpad Cool 1”
LeEco has announced two new Smart bikes at the ongoing CES 2017. Dubbed as LeEco Smart Bike and LeEco Smart Mountain Bike, they run on Android 6.0 Marshmallow based BikeOS. Continue reading “LeEco unveils Smart Road and Smart Mountain bikes that run Android-based BikeOS”
Last month, LeEco chairman Jia Yueting confirmed that the company is facing a financial crunch. Now, the Chinese smartphone maker which has been aggressive this year in India with new phone launches and offers is now feeling the heat of the financial situation.
Continue reading “LeEco backs out of offline smartphone sales, curbs new launches in India”
‘LeMall for all’, a shopping carnival organized by the Chinese handset maker LeEco is all set to go live from November 23rd to November 25th in India. Continue reading “LeEco ‘LeMall for All’ sale from Nov 23 to 25 in India – Cashback, No extra cost EMI and more”
Following the financial downfall, the Chinese technology conglomerate LeEco has appointed a new top executive for Asia-Pacific region. With this deal, the company will get around US$600 million as funding from the investors. Continue reading “LeEco appoints Anthony Gao as APAC President, receives $600 million new funding”
Earlier this week, the Chinese billionaire and LeEco chairman, Jia Yueting had sent a long letter to his employees about the current financial state of the company. This news came right after the expansion into the US market with the debut of the Le Pro 3. Continue reading “LeEco chairman assures commitment towards India despite financial crunch”
China’s LeEco chairman, Jia Yueting has confessed that the company is facing a severe financial crunch and difficulty in raising funds as a result of business expansion. Continue reading “LeEco facing financial crunch, admits company’s chairman Jia Yueting”
After hiring executives from Qualcomm for beefing up its team in India and for for its LeMall store in the country, LeEco has hired former Qualcomm executive once again. The company has appointed Rob Chandhok as Chief Research & Development Officer for the company’s North America operations. Last week the company appointed former Huawei executive Richard Ren as President of Smart Devices for its Overseas and North America operations, and as Acting President of North America. Continue reading “LeEco appoints former Qualcomm executive Rob Chandhok as Chief R&D Officer for North America”