LeEco company is facing financial crisis, they have already started reducing the staffs in India and there is a high possibility that they may exit India. Top LeEco executives from India have already resigned.
As per the report by Economic Times, LeEco has fired 85% staff in India. Delhi and Mumbai offices as of now have minimal staff. LeEco spent too much cash as it expanded their business in India, in fact their advertising budget was much higher than Oppo / Vivo at over Rs. 80 crore per month.
The cash crisis is also attributed to expanding business category i.e. Smartphones to Autos – driverless cars. LeEco India said they are re-calibrating their business operations in India. There is high probability that this company may exit the Indian markets.
As for smartphone users, LeEco will not launch flagship models in India. Hence makes sense to avoid buying the LeEco products. Also avoid buying Coolpad products as that also is part of LeEco company.
Update : LeEco confirmed they are not winding up India operation, but just going slow, reducing staff for now. We will have to wait and see what happens, we will get a better idea probably within 2 to 4 months.
Huawei and Nokia would pose danger for cheap chinese garbage for sure in near future. Even Samsung needs to think intelligently. A biggest turning point is very near.
Can someone suggest good Volte update link for Le1s?
They will come again after financial crysis over. India is a potential country to grow profit on business but they have to step right direction with right management. I guess they will cut some projects on India and their product cost will be little higher. And forget about offline store or outlets those heard earlier from LeEco.
They should have focused only on mobile market but they tried to grow crops on sun but dug their own grave
Bad news 🙁 i have been using le eco 2 for a month now after using note 3 for 3 months and believe me le eco le 2 is best jn every aspect from note 3 i am in love with handset and the CDLA technology OMG its AWSEOME just buy le eco 2 original CDLA headphones from market and the music quality is BEST in ANY PHONE ❤❤❤❤
Yes true. If possible listen songs in Jio music app With Dolby DTS enabled. (Choose custom mode). That is the highest volume I have heard in any phone.
Better leeco reduced price half and see the magic
warranty ki copy leke local shopes p ghumna thik karane…….wat a silly ques abt warranty?……….. ?
They better stop making ugly phones. I hate those thick black lines around the screen display
No they are not leaving they say we are launching new phone and tv in coming month
The last line make me feel sad as I am interested in buying cool 1 in the near future. Gogi ji I want to know your view on this…
Wait for few days lets see what the company says.
good news ???? &xiaomi is next ???
Not gonna happen dude. Lol
Atleast they should keep the TV business running. Beautiful TV sets they have!
What about warranty who bought le phones ?.
OMG!!! This is quite Sad News for all LeEco & Coolpad users.
I’m a le 1s eco user…?
If coolpad cool1 will unavailable in India after some day?
Hmm, but they have denied the rumors of leaving India
So bad ..Leco products are quite good and value for money. Bad management at top level. Phones like cool 1 and lemax 2 are great products for the price.