By 
LeEco seemingly came out of nowhere last year with big events and shiny new gadgets. They have their hands in everything from smartphones to electric cars. However, all that glitters is not gold. They recently made a big push into the US, but things are not going well.
Last year, LeEco missed their US sale projections by a wide margin. They only generated $15 million in revenue in the US last year. The lofty goal was $100 million. As a result, LeEco is eliminating 175 jobs, which is a third of its US workforce. On top of that, LeEco has ditched their plan to acquire Vizio. They cited regulatory hurdles, but it’s equally as possible that they no longer see success in the US. Without the Vizio name, it will be even more difficult to make waves.
[via Bloomberg]
Comments