LeEco can't seem to catch a break. Last month, its CEO Jia Yueting sent out a memo days after the company's US launch claiming it was over-extended and suffering from "big company disease," which seemed a clear euphemism for incoming job cuts. A month later, and things aren't any better.
The Wall Street Journal is reporting that the publicly-traded arm of LeEco, known as Leshi, had seen its stock tank earlier this week. Reports from Chinese media claim that an 8% drop on Tuesday triggered margin calls by Jia's lenders, meaning he will either be forced to sell some of his Leshi company stock or provide his margin accounts fresh funds. Read More
When shopping for a budget or mid-range phone, there is always an element of compromise. How many high-end features, how much capability are you willing to give up for the sake of a few hundred dollars? It's a similar proposition in just about any field - from a multi-year car purchase to a simple meal - but the scales are tipping for mobile. The last few years have been marked by amazing value, and thus less and less compromise, in the mid-range segment.
Which brings us to LeEco. Previously exclusive to the Chinese market, the company's debut in the US is highlighted by the LePro 3. Read More
If you missed the $100 discount on LeEco's two debut phones for the American market, you have another chance to snag one today. The company is selling its higher-powered phone, the Le Pro3, for just $299, while the more down-market Le S3 will be just $149. Apparently the manufacturer didn't see the stampede of sales that it wanted last week, so it's making that generous offer again. The deep discounts on LeEco's televisions remain, minus the dramatic 85" model. The sale will start at 10 AM Pacific and end tonight, or sooner if supplies run out. Read More
According to the China-based Global Times, CEO of LeEco Jia Yueting sent a company-wide memo out on Sunday saying the company's rapid global expansion hasn't gone as well as hoped. In the memo, Jia says that "LeEco's growth pace and organizational capabilities" have been a problem, and that a lack of capital and resources resulted in poorer than expected momentum in the company's various businesses.
Jia specifically calls out "non-listed" LeEco, which are the various ventures of Jia organized through a large number of private subsidiaries not a part of the larger LeEco listed on the Shenzen Stock Exchange. Read More
Chinese manufacturer LeEco made a splash with its US debut, even if it wasn't a particularly promising one. Today it has its sights set squarely on the mid-range market with $100 discounts on both of the debut American phones: the Le S3 and Le Pro3. (And yes, after penning down an initial writeup for the latter, I am LeTired of this LeNaming scheme.) That brings the pricing down to just $149 and $299, respectively, assuming you can snag one of the phones once the sale starts at 10 AM Pacific time. Read More
As a foothold into the American smartphone market, or perhaps a first step in what LeEco sees as a long, protracted climb to the top, the Le Pro3 is an impressive device. Both it and its less powerful variant the Le S3 (yes, we've passed the Pepe Le Pew jokes around the Android Police office plenty already) are exceptional values at their mid-range price points, and the fit and finish of both phones are approaching some of the bigger players. The device meets or beats its most direct competition, the OnePlus 3, at almost every corner. On paper, the Le Pro3 is great. Read More
This morning, I received a rather odd email from a firm representing LeEco offering a "news update." It didn't seem to be an update at all, just re-confirming that on November 2nd the company's products would go on sale, and that there would be stupendous-amazing-wonderful discounts on them. Such as the Le S3 smartphone, powered by a Snapdragon 652 processor, which would be just $149 ($100 off), or the Le Pro 3, which would get you a Snapdragon 821 for a staggering $299. Or its 85" 4K smart TV, discounted to just $3999. LeEco said during its press conference that the prices would be good through November, and it was all part of its UP2U and LeRewards programs - no strings attached. Read More