LeEco, the Chinese phone (and other devices) maker currently facing a tight cash crunch, has done off with its US headquarters property.
Located in San Jose over a 49-acre plot, LeEco sold the property to a Chinese developer group. Interestingly, LeEco will continue to use the plot but will now pay lease to the new buyer.
Gizchina News of the week
The cash-strapped Chinese firm had previously bought the piece of land from Yahoo! and grabbed headlines. LeEco had paid Yahoo! $250 million for the property, and that should help you guess around how much it got back.
This comes weeks after LeEco fired more than 80% of its workforce in India, showing signs of being troubled with a lack of cash. According to reports, LeEco is now considering cutting down on its US workforce as well.
LeEco have had a tough year or so, here’s hoping to see the Chinese giant come back with a bang.
This is the beginning of the end?
I mean if Leeco falls, I wonder if the rest of the Chinese makers will face similar problems, like ZTE.
And if that is real… The chinese expansion will start to end.
That’s not a smart comment to say. LeEco simply just took in too much than it could handle. Tried to grow too fast without the proper monetary flow. Basically, too ambitious. They are still rather big in China and have plenty of assets. They just have to return to China and redraft their expansion plan and not jump on the gun next time.
There’s nothing wrong with ZTE beside their little Iran fiasco that will eventually be sorted out as they have agreed to pay the panalties to the US. ZTE still has plenty of resorces and trades all across the glode and US is just a small chunk of the market compared to ZTE other global shares.
It’s naive to think otherwise.
well said
That is my fear sir….. I would be calm if only is Leeco with serious troubles, but ZTE is on problems too due the selling tech issue… and that brings a worse image for the Chinese brands since Trump is the president of US (with Hillary it would just be a bad time for both companies). He wants them totally on bankrupt….
The problem of Leeco is that they failed HARD even on their own territory. And they have a lot of debts and nothing to counter it unlike some bussiness like Xiaomi or AMD (due the debts/ unexpected success they got with Ryzen).
Leeco is doomed and sadly seems that they might sell everything in order to avoid getting more and more debts.
They failed hard in their own territory? Haha. Where are your facts coming from? Have you been to China? LeEco is one of the biggest online service provider in China and still rather strong with some late payment issue to some of their suppliers which had already came to some agreement minus one whos trying to sue them, of course.
You must have missed the news. Trump seems to love China now after his meeting with Xi. Apparently, they are no longer a currency manipulator. Haha. Trump is a goof ball. He doesn’t have real power outside of the US. He doesn’t even have the support nor control of the US individual states or senates.
https://www.google.com.pe/amp/s/amp.businessinsider.com/china-the-great-wall
Also, Trump is a wild card … Eventually can screw Chinese too.
Your link doesn’t work and no, he just a child with a big toy. Global market shares says the opposite tho. Haha.
China’s economy is forecast to overtake the US in 2018. America’s percentage of the world’s economic output has declined and has been on the rising for China. India is looking rather well too but it will take some time.
please , PLEASE don’t go down under !
i love you Le Eco !
come back STRONGER than ever !
This is the beginning of the end?
I mean if Leeco falls, I wonder if the rest of the Chinese makers will face similar problems, like ZTE.
And if that is real… The chinese expansion will start to end.
That’s not a smart comment to say. LeEco simply just took in too much than it could handle. Tried to grow too fast without the proper monetary flow. Basically, too ambitious. They are still rather big in China and have plenty of assets. They just have to return to China and redraft their expansion plan and not jump on the gun next time.
There’s nothing wrong with ZTE besides their little Iran fiasco that will eventually be sorted out as they have agreed to pay the panalties to the US. ZTE still has plenty of resorces and trades all across the globe and US is just a small chunk of the market compared to ZTE other global shares.
It’s naive to think otherwise.
well said
That is my fear sir….. I would be calm if only is Leeco with serious troubles, but ZTE is on problems too due the selling tech issue… and that brings a worse image for the Chinese brands since Trump is the president of US (with Hillary it would just be a bad time for both companies). He wants them totally on bankrupt….
The problem of Leeco is that they failed HARD even on their own territory. And they have a lot of debts and nothing to counter it unlike some bussiness like Xiaomi or AMD (due the debts/ unexpected success they got with Ryzen).
Leeco is doomed and sadly seems that they might sell everything in order to avoid getting more and more debts.
They failed hard in their own territory? Haha. Where are your facts coming from? Have you been to China? LeEco is one of the biggest online service provider in China and still rather strong with some late payment issue to some of their suppliers which had already came to some agreement minus one whos trying to sue them, of course.
You must have missed the news. Trump seems to love China now after his meeting with Xi. Apparently, they are no longer a currency manipulator. Haha. Trump is a goof ball. He doesn’t have real power outside of the US. He doesn’t even have the support nor control of the US individual states and senates.
https://www.google.com.pe/amp/s/amp.businessinsider.com/china-the-great-wall
Also, Trump is a wild card … Eventually can screw Chinese too.
Your link doesn’t work and no, he’s just a child with a big toy. Global market shares say the opposite tho. Haha.
China’s economy is forecast to overtake the US in 2018. America’s percentage of the world’s economic output has declined and has been on the rising for China. India is looking rather well too but it will take some time.
please , PLEASE don’t go down under !
i love you Le Eco !
come back STRONGER than ever !