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Unread 2016-07-28, 12:05 PM   #1
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Default LeEco Bought VIZIO To Help Complete their Ecosystem








Chinese consumer electronics and general technology manufacturer LeEco took many by surprise after announcing its latest acquisition of VIZIO this week. The US TV manufacturer VIZIO cost the Beijing-based company no less than $2 billion and while a lot of industry experts couldn’t have made sense of this purchase announced during the NeueHouse Hollywood event, things are much clearer today. Namely, it turns out this acquisition is just a continuation of LeEco’s recent product policy whose goal is to make consumer electronics which works even better when paired with other consumer electronics made by – you guessed it – LeEco.


As the Chinese company’s co-founder Hank Liu revealed earlier today, this giant ecosystem LeEco’s trying to create is composed out of several smaller ones: smartphones, TVs, vehicles, sports, cloud, internet technology, online finance, and general content. In other words, the company’s fully embracing the Internet of Things (IoT) spirit in its business practices while focusing on the entertainment side of things. As you obviously can’t have a huge IoT business whose main selling point is entertainment while ignoring TVs, LeEco decided it’s time to expand this branch of operations outside of China. Naturally, financially the most logical place to expand is the United States and that’s where the acquisition of VIZIO comes into play. As the senior VP of LeEco Winston Cheng revealed, his company decided against using the aforementioned $2 billion to enter the market organically because that would encompass using the money to fight VIZIO for market share. This way, they instantly get the company’s market share and can momentarily start incorporating the existing brand and its products into the aforementioned LeEco ecosystem.

Just like this acquisition is a huge opportunity for the Chinese company to enter the US market, it’s also a great chance for VIZIO to expand to foreign markets. As the US firm’s CTO Matt McRae explained, VIZIO is planning on taking full advantage of its new parent company’s global content delivery network. In other words, this purchase is an opportunity for both companies to strengthen their core businesses by enabling them with new content and hardware, and using the other party in the deal to reach new audiences more easily. Whether they succeed in their endeavors remains to be seen.
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Unread 2016-10-19, 08:23 PM   #2
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LeEco U.S. Launch Roundup: Everything You Need To Know





LeEco held their special U.S. lunch event earlier this morning in San Francisco, and they revealed a handful of new products that consumers who enjoy technology will get excited about. While the most relevant products to most consumers will be either the two revealed smartphones or any one of the new smart TVs which LeEco unveiled today, there are a couple of products that hold a little more of a wow-factor in the visionary department. This includes LeEco’s smart, connected, self-driving car called the LeSEE Pro, as well as the LeEco Syvtrac which they’re touting as the world’s first super bike.
When it comes to the phones, LeEco announced two smartphones total, which include the Le Pro3 – the higher powered device aimed at consumers who want top of the line hardware specifications, and the Le S3, a device aimed more at the mid-tier market coming in with a more affordable cost but still offers some decent hardware. Key highlights of each device are the Full HD 5.5-inch displays on both phones, as well as the Qualcomm Snapdragon 821 CPU in the Le Pro3 and the Snapdragon 652 CPU in the Le S3. Each device is also compatible with LeEco’s new subscription-based streaming video service called LeEco Live.

LeEco Live is a product that was announced on the software side of things, and will become available sometime early next year, although LeEco has not yet mentioned a price point for the service, whether there would be multiple packages available, or when exactly it will launch the service in the U.S. Of course, moving back to hardware, LeEco also announced a slew of new SmartTVs, which includes three different models in the Super4 line – the x43, the x55, and the x65, all of which have a screen size that is denoted by the number in their model name. LeEco also announced an 85-inch TV called the uMax 85, which brings the same smart and connected features to the table but on a massive display. Also part of the announcement event today was LeEco’s virtual reality headset which they call ExploreVR. The headset looks to be fairly comparable to the likes of the Gear VR with a slightly different design, and it’s meant to work with the Le Pro3 that was just announced. While there quite a few things to see from LeEco’s event, if you happened to miss anything you can find all the stories linked below.

Smartphones
Smart TVs
Streaming Video
Smart Car/ Super Bike
VR
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Unread 2016-10-31, 07:31 PM   #3
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Video: LeEco Le Pro 3 Unboxing and First Look





The Le Pro 3 from LeEco is the company’s first big push into the US market, and from the buzz we have seen so far in the community, I would say they are doing a pretty good job at getting folks excited. Leading the LeEco charge is this smartphone, scheduled to go on sale November 2 for a special promotion price of only $299, which is $100 off its list price of $399.
The phone competes with the best of them in terms of specs, with the Pro 3 equipped with a 5.5″ FHD display, Snapdragon 821 processor, 4GB of RAM, 16MP rear-facing camera, 64GB of built-in storage, 4,070mAh battery, fingerprint reader, and LTE bands for support on any major GSM network in the US.
While the specs are killer, especially for such a competitive price, the software is quite different from a stock Android experience. On the Pro 3, you won’t find an app drawer, LeEco has built in a ton of its media sources for viewing movies and TV, plus you won’t find system toggles inside of the notification pulldown.
Check out the unboxing video, then share your thoughts below.


Something went wrong. Please make sure you added the video correctly.

Video URL: http://www.youtube.com/watch?v=ptSCqQ6xND0


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Unread 2016-11-02, 11:01 PM   #4
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LeEco Le Pro 3 Available Today at 10AM Pacific, Priced at $299 Until Sold Out





The Le Pro 3 from LeEco goes on sale via LeMall this morning at 10am Pacific (1pm Eastern). If you saw our unboxing and want to make a move for this device, there’s a few steps you need to follow to ensure you have the best chance of snagging one. As you might imagine, for a phone as nicely specced and priced as the Le Pro 3, a few folks will be attempting to get in on the action this morning.
The device features a 5.5″ FHD display, Snapdragon 821 processor, 4GB of RAM, massive 4,070mAh battery, 64GB of onboard storage, plus a fingerprint reader — all for the price of $299, thanks to a $100 promotional instant rebate.
In order to snag that instant rebate, which will save you $100 off the $399 list price of the Le Pro 3, you must be registered on LeMall for a LeRewards account. Once done, and if the device isn’t sold out within 15 seconds, you might be able to buy the phone. You can register for an account all the way up until 10am Pacific.
Now, with a launch like this, you can expect a few things. First, be prepared for the LeMall site to possibly crash. LeEco has not mentioned how many devices they are setting aside for today’s sale, but we can’t imagine its an enormous amount. Because of this, people will be flooding the site, potentially making it crawl. Your best bet is to be patient and keep slamming that f5 key if need be.
Now, as for whether this device is worthy of your $299, I would say “yes!” Considering the price and the specifications, there’s not much to complain about. Sure, it runs a super skinned Android “Marshmallow,” but it’s not like a 3rd-party launcher can’t fix that. Additionally, the phone has a 4,070mAh battery with a FHD display. From my testing over the last couple of days, I can confirm that the battery is a beast. On top of that, your purchase comes with a trial of LePass, granting you free access to TV shows and movies. For value, the Le Pro 3 packs plenty.
If the Le Pro 3 is on your shopping list, follow the link below, and good luck.
LeMall Link
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Unread 2016-11-06, 10:28 PM   #5
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Days after US launch, LeEco's CEO sends bizarre letter claiming company has over-expanded


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. The profitability of these various properties is, predictably, not disclosed. These "private LeEcos" include the divisions responsible for many of LeEco's hardware ventures, such as smartphones and, perhaps more widely known, vehicles.
The memo's timing seems telling. LeEco's flash sale on November 2nd marked the company's launch in the US, and while it does seem some of its flash sale supply did sell out, the immediate re-listing of the same price promotions a week later would also suggest lackluster demand. Within moments of the sale beginning, the $3999 85" TV that made headlines sold out, but LeEco's other offerings didn't follow suit with anything resembling that speed, likely a letdown for the brand hoping to capitalize on the notion that its products were generating large interest in a new market. During its massive press conference a few weeks back, LeEco said its launch on November 2nd in the US would be accompanied by an "industry-disrupting" partnership announcement. That announcement never materialized.
The lack of confidence expressed by Jia in the memo would seem to openly undermine this new market launch. It appears Jia is looking for executives to throw under the proverbial bus, too, as he states in the memo that management should be held responsible for the failures, offering to accept a lifetime salary of 1 yuan per year "forever" as a punishment of sorts. (This, I will note, reeks of a publicity stunt, as Jia has massive holdings publicly and privately in LeEco - he doesn't need a salary, and could well be paid just as well in stock, bonuses, and benefits.)
At LeEco's San Francisco launch event, Jia had planned to be driven on stage by a LeSee self-driving electric vehicle, but the car was in a serious accident on the way from Los Angeles, according to the CEO.
LeEco suffering from poor momentum globally wouldn't exactly be a surprise. The company seems remarkably tone-deaf, especially to Western audiences, and its marketing and self-promotion come off as boastful and, frankly, nonsensical. How LeEco intends to disrupt the already heavily saturated US smartphone and content streaming market remains totally unclear, and perhaps this memo just goes to show how badly LeEco miscalculated.
Jia himself is no stranger to detractors - he is a major shareholder in Faraday Future, an electric vehicle startup that has also come under intense scrutiny for its viability in recent months. Faraday plans to unveil its car at CES in January 2017, and that event will almost certainly be a make or break moment for Jia's ambitious ventures.
We reached out to LeEco for comment, and will update this story if we hear anything from them.
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Unread 2016-11-29, 02:16 PM   #6
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LeEco ditches flash sales, will sell its phones at Amazon, Best Buy and Target






When China-based LeEco announced it was going to start selling its smartphones in the US earlier this fall, it made the decision to go with the “flash sale” business plan. It only let people purchase its products in the space of a few hours. Apparently that plan didn’t work well so LeEco is now ditching the flash sale for a more traditional online US retail business model.











Starting today, the company’s LeMall.com web store is now open permanently in the US. Furthermore, it will sell the LeEco Le S3 and Le Pro3 smartphones and smart TVs at Amazon, Target and Best Buy starting on Thursday, December 1. This is definitely a switch for the business and it may show that it realizes that sales tactics that may work in China don’t necessarily work the same in the US.
This news comes as the company is also dealing with reports that its financial status is not quite on solid ground, although it did report recently that it raised $600 million in new financing. The company is one of several China-based smartphone makers that are trying to break through into the US market in 2017. Having its products sold 24 hours a day at big retail chains certainly won’t hurt, but it still remains to be seen if LeEco will stand out from this already crowded field.
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Unread 2017-01-03, 08:57 PM   #7
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LeEco announces smart bikes with Android-based 'BikeOS' at CES


LeEco is determined to succeed in the North American market, despite a strange launch event and mediocre devices. The company has announced two new smart bikes, the aptly-named LeEco Smart Road Bike and LeEco Smart Mountain Bike (not LeBike?), which can be seen on the CES show floor.
The 18.5-pound LeEco Smart Road Bike includes features you would expect a bike to have - a Toray T700 carbon fiber frame, seat post, fork, handlebars, and wheels. Yes, LeEco explicitly said in the press release that it had wheels. The LeEco Smart Mountain Bike also has wheels, a 27.5"/650b diameter wheelset, and weighs 26.9 pounds.
The main feature of these bikes is LeEco's custom-built BikeOS, which happens to be based on Android 6.0 Marshmallow. BikeOS allows riders to use turn-by-turn navigation tailored for bicycle riding from HERE Maps, two-way communication with other nearby LeEco smart bikes, ride logging, and music playback. Users can also download a companion app to review and share rides.
Both models have a Snapdragon 410 CPU, 4-inch touchscreen, and a 6,000mAh battery to help power the on-board BikeOS system. There's also a variety of sensors for monitoring rides - GPS, accelerometer, compass, barometer, light level, and wheel/crank speed. The bikes' electronics are IP54-protected, which should cover dust and water splashes.
LeEco did not mention pricing, but did say that both bikes will be available in the United States in the second quarter of 2017.
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Unread 2017-03-21, 12:29 AM   #8
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Report Says LeEco US Violated The WARN Act, Company Responds





LeEco is a China-based smartphone manufacturer who wanted to do too much too fast, and is now paying the consequences it seems. This company was quite successful in China under the Letv name, before they changed it to LeEco. Letv was founded back in 2004 and they were a video streaming company for quite some time, and were quite good at it. Letv was actually the first Chinese video streaming company to go public. Well, the company decided to manufacture smartphones back in 2015, they actually released first three handset in April 2015, and have changed their name to LeEco in January 2016.
That being said, LeEco decided to expand outside of China rather fast, and that didn’t exactly pan out for them. They started selling their products in India, and then moved on to the United States in November 2016. LeEco hosted their first flash sale in the US, though they didn’t realize that flash sales are not exactly the best idea when it comes to the United States. Even though LeEco managed to sell out their TVs rather quickly in the US, the whole venture didn’t exactly pan out for the company. LeEco’s CEO issued a corporate letter a while back, claiming that the company over-expanded, and the US was not the only problem, LeEco actually fired 85% of their staff in India rather recently. On top of all that, a report surfaced recently claiming that LeEco wants to sell the property they bought from Yahoo last year, and even though LeEco officially said that they have nothing to announce at this time, and that they’re working hard on improving things, in a nutshell. The company denied that they’re leaving India, but will they leave the US? Well, we’ve received some new info from an anonymous source, and based on the provided info LeEco is not doing that well at all, read on.

Ex-Samsung CMO, Todd Pendleton, allegedly quit LeEco in November, and the Google Patent lawyer who LeEco hired quit rather recently as well. LeEco laid off over 250 people in the US since November, and according to the source, the company will continue doing so. Now, some of you might know that a company in the US needs to issue a ‘WARN’ notice if they plan to lay off a substantial amount of people, well, it seems like LeEco violated that rule, as you can see here. We’ve decided to reach out to the company after we’ve received this report, and LeEco simply said the following: “As a company, we follow regulatory processes and laws”, while they’ve also mentioned that they do not comment on the individual status of employment. Now, if you take a look at the gallery down below, you’ll be able to get some additional info, on top of what was already said in this article. So, will LeEco be leaving the US in the near future? Well, the company spent a lot of money and time trying to succeed in the US, and it’s not that likely we’ll see them leaving the States anytime soon, they even announced US retail expansion for smartphones and TVs quite recently. So, all in all, it seems like LeEco is here to stay, but who knows what the future brings, stay tuned.
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Unread 2017-05-23, 12:38 PM   #9
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Update: Mass layoffs expected in the US, as LeEco founder steps down as CEO







Update, May 23: The troubles are far from over for embattled LeEco. Soon after the announcement that founder Jia Yueting would step down from the helm of the company, CNBC reported that the US unit of LeEco would be gutted through mass layoffs that would see 90% of the workforce laid off. The layoffs will be announced at an all-hands meeting that has been called for today, sources said. It looks like LeEco will also “refocus” its US operation to marketing its Chinese language content catalog to Chinese-Americans.

Original post, May 22: LeEco founder Jia Yueting has stepped down from his position CEO of Leshi Internet Information and Technology Corp., the company’s main publicly listed unit, according to a report from Reuters. The move comes as part of a wider restructuring aiming to address the business’ recent cash-flow problems.

Jia will be replaced by Liang Jun, a former Lenovo executive who joined Leshi — also known as Le.com — in 2012, while chief financial officer Yang Lijie, who resigned due to personal reasons, will be replaced by Zhang Wei.

In a LeEco staff letter seen by Reuters, Jia said the two new appointments were the “Most important milestone since its IPO in 2010.” Jia will remain as the chairman of Leshi and the CEO of the broader LeEco group.


See also:

LeEco dodges a bullet, lives to fight another day

January 13, 2017




This news follows a number of LeEco setbacks in the last few months, said to have stemmed from the rapid expansion of the company. LeEco recently canceled its attempt to acquire US TV manufacturer Vizio, shut down its Eco Pass TV streaming service, reportedly failed to pay workers on time and laid off staff in India and the US, and was said to be selling the Silicon Valley plot of land it bought to aid its US expansion. But apart from that everything is going pretty well for the company.




LeEco’s troubles aren’t behind it quite yet, but a restructuring seems like it could be a step in the right direction for the Chinese conglomerate.
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Unread 2017-07-06, 11:11 AM   #10
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LeEco money troubles mount; founder resigns as assets frozen










Still the company's executive director and largest shareholder, Jia Yueting wants to focus his efforts on bringing Faraday Future's FF91 to market.
LeEco's billionaire founder, Jia Yueting, has resigned from his role as chairman as the company continued to face financial uncertainties.


Citing Chinese newspapers, Reuters suggests a Shanghai court recently froze $182 million in assets owned by LeEco or Jia.

"Please give LeEco some time, please give LeEco car some time, we will pay back creditors, suppliers and any other debts," he wrote on his WeChat social media account.

The controversial executive may have stepped down from CEO of the publicly traded company, however he will retain his position as executive director and remain its largest shareholder.

"Resigning from listed company CEO job and many other important roles is all aimed at making FF91 go to production and hit the market as soon as possible," he wrote, referring to Faraday Future's electric vehicle.

The move will undoubtedly raise even more questions as Faraday Future attempts to recruit investors to help fulfill its production ambitions. The company recently told the Las Vegas Review-Journal that it needs to raise $1 billion in financing to move forward with factory construction
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