From what I understand, Le was founded by Jia Yueting akin to the Elon Musk or Richard Branson of China (or so he'd like to think.) The company was known as the "Netflix of China" and was primarily a media company. The phones, while pretty nice, were just the vehicle to the media and were sold cheaply.
I'm not saying he wasn't a visionary, nut for every Musk or Jobs there has to be a Tesla and an Edsel. He oversold the foreign market opportunity to his investors and then played a little too fast and loose with the books to hide the fact that he wasn't taking the world by storm. He dug himself a hole he couldn't get out of, sorry to say.
Jia's interests and companies are far-reaching and intertwined. While it's true the company is floundering, getting a straight answer from them is pretty hard to get, even for investors and subsidiaries.