Leeco the best mobile maker is leaving India.
Le-eco is facing many losses in India and it has also stopped services all over the India , even leeco customer care is not responding to a call . Here is some news for you.................,
Four months after Chinese billionaire Jia Yueting acknowledged his company LeEco was fast running out of cash, the erstwhile high-flying company has fired 85% of its India staff and allowed two leadership exits in what the industry says is a precursor to its eventual withdrawal from the South Asian nation.
Two top executives — Atul Jain, chief operating officer of smart electronics business, and Debashish Ghosh, chief operating officer for Internet applications, services and content — have resigned, according to three top industry sources. The company, which outflanked Xiaomi, Oppoand Vivo with an advertising budget as high as Rs 80 crore a month, had exited sales through offline retail stores in December.
In November, Jia Yueting had written an email to employees saying the firm had burnt cash too quickly as it expanded into businesses ranging from smartphones to driverless cars. The founder had acknowledged its global expansion strategy went too far in the face of limited capital and resources and that it would cut costs and realise efficiencies.
Read more Here
Le-eco is facing many losses in India and it has also stopped services all over the India , even leeco customer care is not responding to a call . Here is some news for you.................,
Four months after Chinese billionaire Jia Yueting acknowledged his company LeEco was fast running out of cash, the erstwhile high-flying company has fired 85% of its India staff and allowed two leadership exits in what the industry says is a precursor to its eventual withdrawal from the South Asian nation.
Two top executives — Atul Jain, chief operating officer of smart electronics business, and Debashish Ghosh, chief operating officer for Internet applications, services and content — have resigned, according to three top industry sources. The company, which outflanked Xiaomi, Oppoand Vivo with an advertising budget as high as Rs 80 crore a month, had exited sales through offline retail stores in December.
In November, Jia Yueting had written an email to employees saying the firm had burnt cash too quickly as it expanded into businesses ranging from smartphones to driverless cars. The founder had acknowledged its global expansion strategy went too far in the face of limited capital and resources and that it would cut costs and realise efficiencies.
Read more Here
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