Never ending investments in expansion and acquisitions has resulted in a serious cash flow problem for LeEco who now are making big changes to their operations in India!
LeEco has recently announced that it will be taking all sales online and will continue to work with Flipkart, Amazon, Snapdeal and their own online store, but offline sales will be halted. Apparently Sangeetha Mobiles, the company dealing with LeEco offline sales, has been informed that no more orders will be filled due to LeEco’s current financial situation.
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Those are not the only changes though! LeEco apparently drastically reduced its massive advertising budget and cut almost 1000 temporary jobs, plus new launches have been postponed until things turn around.
LeEco have been growing at a huge pace with their India based operation kicking off in January this year, followed by partnerships with Aston Martin, Faraday Future and most recently starting sales of their new flagship in the U.S
Hopefully this is just a temporary issue and LeEco will be back to full strength soon, but looking their their current problems that doesn’t look very likely!
I loved that company from the beginning. Always wanted to give it a try, but the lag of band 20 was stopping me. The devices are getting bigger (I am not a fan of big devices). Also, I do not like to have the fingerprint on the backside :/
They are one of the few Chinese OEMs that have B20.
Don’t see this like a huge problem: their plan was huge since the beginning, at some point it would have been obvious they’d encounter a problem like that… But is it really a big problem? They grew a lot in a small amount of time, their plans have spooked conservative investors a bit, and their new “international” situation is totally supposed to led them to redo something other their pre-established situation… Just saying, it’s obvious they need to cut offline stocks if their production chain only can get X amount of products per day, online stocks are much more easier to handle (you can send the exact amount of phones needed other than leave stocks on the shelves on offline stocks).
Also, it’s sad for whoever has lost his job, but if it was part-time it wasn’t that necessary after all.
Leeco needs to adjust things, they’re not in bankruptcy or anything, and some changes are required if you change your game plan.
LeEco India operation has been in a state of limbo really after introduction of Le2, almost 6 months ago, and downhill at least in India all the way Now their market is owned by Xiaomi, because LeEco new product pipe line has totally dried up, and fearing a total withdrawl of Company, people in India, no longer buy LeEco, fearing future problems of After Sale Service. So unless LeEco turns around completely, it is bye bye LeEco in India.
Wonder how many phones they sold in the US.. Probably not many
LeEco makes nice looking phones, but I’ve never owned one yet. And never will buy a phone with max 32GB storage with no SD card expansion. If no SD card then there should be 64 and 128 GB options. Not surprised they are having to cut costs.
totally agree with you, 32GB with no expansion limits what you can do with the phone, I had a letv le1s, it was a nice powerful phone but the storage became an issue. it could handle all apps fine but the lack of expansion limited just how much I could do with the phone. Am a student and do alot of stuff on my phone, almost as much as my pc and a heavy gamer, I gracefully traded my le1s for a xiaomi RN 3pro and bumped up the storage with 64GB, and am now thinking about the redmi pro(128GB/4GB), after my experience with the letv, I vowed never again!
am I the only one who thinks all the leEcco phones this year all look the same?? I mean, for real, the only difference is the internals to some extent, ie same design and relatively close screen size 5.5-5.7 with huge bezels!! and some messed up configurations, like we have, SD821,1080p, 16MP, 6GB/32GB vs SD830, 2k 1440p, 21MP, 4/6GB, 32/64GB vs helio X20, 1080p, 16MP, 3GB/16/32GB vs helio X25, 1080p, 21MP, 4GB/32GB?i mean wtf???? some times you aren’t even sure what you are getting I mean how do you cinvince everyone you have the flagship while your neighborhood with and “Identical”, has the midranger? n fyi,, I think I left out some models in their 2016 line up!! update my list if you may!!