In early 2016, a company which gave competition to Xiaomi’s bestseller Redmi Note 3 with it’s debut phone in India is ‘LeEco’. But seems like the journey of LeEco will end soon in India, just after 1 year. Reports are there that LeEco will make exit from India because of the loses that they are suffering from. Recently LeEco fired around 85% of there staff members in India. So why LeEco had done this? What’s the reason behind the losses? Let’s find out.
On February last year, LeEco made there entry in Indian smartphone industry with Le 1s, that became a popular smartphone within a month of it’s launch. It packed some pretty decent specs until the launch of Redmi Note 3. Even after the launch of Redmi Note 3, LeEco wasn’t totally ignored by people beside that it’s a new brand. But things started changing when they launched Le 2, the successor of Le 1s. In Le 2 they sticked to the same 32GB of internal storage without the SD card slot & they also removed the 3.5mm headphone jack, which turned into the failure of Le 2. After that LeEco launched Coolpad Cool1 in January this year but that phone also became a flop as the software optimization was not that great & that resulted major heating issues in the device. LeEco also launched there Letv series but that also became flop.
But that’s not the only & main reason for the exit of LeEco from Indian market. LeEco spend a lot of money in advertisement which they can’t recover. And that made them out of cash. This resulted in a way that lead to the firing of staff members from the company.
So that’s the reason why LeEco fired their 85% staff members and they might make an exit from the Indian smartphone industry. We hope that if LeEco will go from India, they make a good comeback in the future when they are ready or when they have enough budget.
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Source : The Economic Times, Via : PhoneRadar
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