It may be no secret that LeEco is in some big trouble, but this latest rumor pretty much seals the fact. The news goes that LeEco’s Beijing Headquarters are on sale for a sum of RMB 1.4 billion ($211 million). The building covers 20,000 square meters of gross floor area, so it’s a pretty impressive thing.
It’s no secret that LeEco’s capital chain is shattering. Over the past few months, courts have approved multiple applications to freeze assets of LeEco’s affiliates and the assets of its founder Jia Yueting. The sale of its headquarter building in Beijing reflects that the once glorious LeEco has plunged deeper into crisis.
Gizchina News of the week
LeEco’s cash woes worsened when the company expanded to the US last year despite the limited capital and resources. The overstretched overseas expansion is one of the reasons why the firm’s struggling with the capital shortage, making it hard for LeEco to raise more funds.
LeEco’s plan to sell of their building may not even come through though. Last year, Leshi Holdings has mortgaged the headquarters to seek for a loan of RMB 1.4 billion through a third-party company, and the pledge is still in effect. This basically mucks up all of LeEco’s plan, so we’ll have to see how this eventually turns out.
What a sad news!
Why?
They did shit, lied, tricked and cheated. Hired people and thrown them away like shit. Were having cash issue while the boss was buying villas in the US. I am sure he managed to use this to leak money out of China under the Party’s strict rules.
Now they bankrupt, he will be lucky enough to not have to pay back his debts. He still have villas and other shits, while workers lost their jobs and suppliers are waiting for their money. I think it’s karma. They did shit, the company dies, fair enough. Xiaomi which was a clone, did better. People were laughing at Xiaomi when they were postponing their US deployment. Now is left the result for all to see. A company that takes small steps, and another one doing all kind of shits to attract investors money.
Well said!
Xiaomi was founded by former Google employees they knew US market wont be easy so they kept away from it.
Thats terrible, they made 2 of my favorite phones i ever used and still use. I hope they dont go bankrupt and soon will be back on phone making department
Unfortunately i am afraid that’s wishful thinking, i had the Le 2s and loved it and bought one for my daughter as well.
keep hoping. Or can even launch a #prayforleshi
Personally, I hope they die soon, and I hope they will clean their debts first.
What a sad news!
Why?
They did shit, lied, tricked and cheated. Hired people and thrown them away like shit. Were having cash issue while the boss was buying villas in the US. I am sure he managed to use this to leak money out of China under the Party’s strict rules.
Now they bankrupt, he will be lucky enough to not have to pay back his debts. He still have villas and other shits, while workers lost their jobs and suppliers are waiting for their money. I think it’s karma. They did shit, the company dies, fair enough. Xiaomi which was a clone, did better. People were laughing at Xiaomi when they were postponing their US deployment. Now is left the result for all to see. A company that takes small steps, and another one doing all kind of shits to attract investors money.
Well said!
Xiaomi was founded by former Google employees they knew US market wont be easy so they kept away from it.
Thats terrible, they made 2 of my favorite phones i ever used and still use. I hope they dont go bankrupt and soon will be back on phone making department
Unfortunately i am afraid that’s wishful thinking, i had the Le 2s and loved it and bought one for my daughter as well.
keep hoping. Or can even launch a #prayforleshi
Personally, I hope they die soon, and I hope they will clean their debts first.
well they should have known better,
Rather than making smartphones & Electronics & advancing in technology..
They choose to build driverless Cars & etc…like they are some google or amazon, which require billions or dollars for R & D itself…
They had the same potential as onePlus & Xiaomi..
Too bad they dug their own grave..
The whole problem was started by the founder. He sold the phones/TV with free online TV subscription which caused losses on each device they sold. Every device LeEco sold is on loss of about 10-15%. No wonder LeEco is so close to bankruptcy. I now worry about their phones as my leeco max 2 is still on Android 6.0
My friend you ain’t getting Nougat. But there are many ROM’s that even have Oreo. https://forum.xda-developers.com/le-max-2
Official Android 7 was due to be released… I have custom ROM.
well they should have known better,
Rather than making smartphones & Electronics & advancing in technology..
They choose to build driverless Cars & etc…like they are some google or amazon, which require billions or dollars for R & D itself…
They had the same potential as onePlus & Xiaomi..
Too bad they dug their own grave..
The whole problem was started by the founder. He sold the phones/TV with free online TV subscription which caused losses on each device they sold. Every device LeEco sold is on loss of about 10-15%. No wonder LeEco is so close to bankruptcy. I now worry about their phones as my leeco max 2 is still on Android 6.0
My friend you ain’t getting Nougat. But there are many ROM’s that even have Oreo. https://forum.xda-developers.com/le-max-2
Official Android 7 was due to be released… I have custom ROM.