LeEco is one manufacturer who has its hand in almost every spectrum with expansions here and there and occasional acquisitions. However, this has taking a drastic toll on their finances forcing them to make come certain unpleasant changes on their operations in India.
Being one of those manufacturers who really take out time to advertise their handsets, due to low cash flow, this OEM has slashed off a huge chunk from their advertising budget and would lay-off more than 1000 temporary jobs.
They would be putting a stop to their offline sales for now as revealed by the company in charge of their offline sales Sangeetha Mobiles who also went on to say that this new change is due to the current financial crisis this OEM is facing.
Nonetheless, the folks over at LeEco, not wanting to lose out on the sales of their handset have also announced that their sales would now be made online with their vendors being their very own online store, Amazon, Snapdeal and Flipkart.
More so, they have postponed every new launching of smartphones till they get back on their feet and from what we have seen with this OEM, it wouldn’t be too long.
We saw them sprout out really quickly with their operation in India earlier this year with a few acquisitions and partnerships with large firms like Aston Martin and Faraday Future – of which we are expecting to see the Faraday Electric Car hit the market soon – and we hope they can repeat such rapid growth before it becomes too late for them.