LeEco has been on a downward spiral for the last year, and now the company's online storefront is unavailable to customers in the US or China. The website now shows an error message about an "Unknown Host".
LeEco's founder has refused an order to return to China to answer for his company's growing debt troubles. Instead, he will send his brother in his stead while he stays in the US to continue working with Faraday Future, a company working on autonomous cars.
LeEco's founder, Jia Yueting, has been ordered to return to China by the country's Securities Regulatory Commission by the end of the month in order to face the company's incredible debts. It appears he's currently in the US.
The Chinese government has placed LeEco on a list of companies who are fiscally irresponsible. The classification seemingly revokes their credit ratings and places restrictions on spending, and would also likely prevent LeEco from receiving government grants, loans, or other types of funding.
A new report says a Shanghai court has frozen $180 million in assets owned by LeEco co-founder Jia Yueting and his wife. The order was carried out on behalf of China Merchants Bank due to missed interest payments by LeEco's mobile division.
LeEco has been having a cash issue that got so big they ended up borrowing $2.2 billion from a Chinese holdings company called Sunac. So far, they've spent most of that money repaying debts accrued during their latest expansion and says it still hasn't been enough to support funding.
New photos of the LeEco Le Max 3 have been leaked online, showing the phone resembles the Le Max 2 that debuted last year. The front panel is rumored to be 5.7" and will feature a dual camera and fingerprint sensor on the back.
After its executive reshuffle, it looks like LeEco will be laying off over 85% of its US workforce. The company employs about 500 people in the US and sources say that only about 60 people will be left after the restructuring.
A new report says LeEco CEO Jia Yueting is stepping down from his role as the CEO of his fast-growing company. Instead, he'll be devoting his time to strategic planning for the company, which has expanded too aggressively in recent years leading to cash flow problems.
LeEco has been having money troubles and a new rumor suggests the company is downsizing in a big way. The company has sold off its 49 acre property in Silicon Valley and backed out of its acquisition of Vizio.
LeEco may be struggling in the financial department lately, but the company just announced a new version of their Le Pro 3 flagship. The device will be made available in China on April 14th in gold, rose gold, and black in both 'standard' and 'eco' versions.
LeEco is scheduled to unveil the Le Max 3 on April 11th after the company started sending out press invitations. The device is expected to feature a new AI personal assistant, following in the footsteps of the likes of Samsung and Google.
LeEco still hasn't been able to bounce back from their financial issues and a new report talks about how they're putting a delay on paying their US employees. Not only that, but the deal to acquire Vizio is also being held up because of tighter currency restrictions inside China and LeEco’s...
There's a new Geekbench database entry that claims to be of an upcoming LeEco smartphone. If true, we should expect one of their new devices to ship with MediaTek's Helio X20 SoC, 3GB of RAM, and Android 7.1.2.
LeEco expanded their company very quickly and ended up having to cut back due to a lack of cash. Now, it's being reported that LeEco will be forced to sell their 49-acre U.S. Silicon Valley property less than a year after buying it from Yahoo.
There's a couple of heavily watermarked photos that are circulating that claim to be of the upcoming LeEco flagship. If true, we could see the company introduce a new phone with a curved bezels like the Galaxy S7 Edge.