If you recall the time of 2016, the OEM which directly competed with Xiaomi is no more in the smartphone market from early 2017, yes we are talking about LeEco. In 2016 they launched some awesome phones like LeEco Le1s, but over the course of time, the company was getting financial issues. Due to this, they have to exit from various popular markets like India. After a very bad 2017, seems like 2018 is going to be better for LeEco.
The company now got a very good investment worth CNY 15,04 Billion (USD 2.2 Billion). A Real Estate company Sunac China Holdings is investing this amount in LeEco. Both companies will co-operate with each other through this investment. While the LeEco will solve its financial position, Sunac will increase it reaches to various industries like the smartphone, movie production, and driverless cars. Sunac will invest this amount by dividing it into three different branches of LeEco. Below is the chart for the details of the investment:
CNY 6.04 Billion (USD 918 Million):
LeEco’s’s Internet Information and Technology Corp. Division.
CNY 7.95 Billion (USD 1.2 Billion):
SmartSmart internet TV unit of LeEco, Leshi Zhixin.
CNY 1.05 Billion (USD 160 Million):
Movie Production Unit of LeEco, Leshi Pictures.
So that’s all the information we have as of now. Can LeEco be able to make a comeback in smartphone industry? Can they be able to compete with brands like Xiaomi as they did in 2016? Only time will tell us the truth. But, what are your thoughts on the same? Do let me know in the comments below. Also, stay tuned to us for more information.