Things aren’t working out for China’s conglomerate.
LeEco may soon exit its India operation, less than an year and half after the company entered the country. The company’s top level executives in the country have resigned and the vast majority of staff has been laid off, according to a former employee.
LeEco entered India in January last year with a range of smartphones and attempted to replicate Xiaomi’s business model for success in the country. The company’s Le 1s handset, which sports a 5.5-inch display and 3GB of RAM, created buzz in the market. The smartphone was priced at Rs 10,999 ($165). …
Via: Mashable: Business