The company's smartphones were well-received in India, and it even launched some brilliant 4K TVs (read our review) in the country.
In its glorious days, LeEco got the better of rivals like Xiaomi, Oppo and Vivo with an advertising budget as high as Rs 80 crore a month. As per sources close to development, the layoffs are a precursor to the company's eventual exit from India.
Chinese electronics major LeEco has laid off almost 80 percent of its employees in India as the maker of smartphones and TVs battles a cash crunch back home. Speculations of trimming down the Indian team had started in December a year ago, when reports of LeEco India exiting offline sales of smartphones, had started creeping in; and that it would cut 1,000 in-shop temporary jobs.
Chinese billionaire Jia Yueting had written an email to employees in November stating that his company had expended its cash reserves too fast by expanding into areas like smartphones and driverless cars, the report says. The company has sent out a detailed statement saying, "India is one the most strategic markets for LeEco and hence there isn't any exit plan".
The company has fired employees in both the Delhi and Mumbai offices and further plans to lay off members of its research and development staff in Bengaluru office. Already, the company has lost some of its top executives in India. "All businesses need to be profitable to be sustainable".
None of it was triggered by the alleged slump in sales due to demonetisation, he said. "That has been the primary objective in taking certain measures, though the numbers (of layoffs) indicated are incorrect", Li said.
The report citing one senior executive working with a leading e-commerce marketplace that does business with LeEco said the company is preparing to exit India as it has been struggling to find a winning formula, with demonetisation further hurting sales.
The news comes four months after Jia Yueting, CEO, LeEco, had in a letter to Reuters accepted the firm was facing "big company disease" after having expanded at an "unprecedented rate".
Townsend said the U.S.is still talking to Turkey about whether and how Turkish forces might be involved in an assault on Raqqa. He referred to the Syrian forces to disclose the number and extent of the casualties.
WOTUS expanded protection to include smaller streams and wetlands that drain into major rivers, bays, and drinking water sources. Army Corps of Engineers, which jointly administer WOTUS, will have to justify their findings with scientific research.
With plenty of points to be won and lost, the title race is still very much on and Arsenal will be confident of bridging the gap. Defensively, Arsenal have improved since Shkodran Mustafi joined the club in the summer but there is still room for improvement.
Brent crude, which is used to price global oils, was down 16 cents, or 0.3 percent, at $56.35 a barrel in London. The promises have helped send USA stock benchmarks to records, but Trump offered little by way of detail.
Bellis surprised No. 27-ranked Yulia Putintseva 6-1, 7-5 in Dubai's first round, rallying from 5-1 down in the second set. The youngest American to defeat a top-10 opponent since Wimbledon 2009, when Melanie Oudin eliminated Jankovic.
These are the words that come to mind when I think of my life as a Palestinian. "But then you're just not going to have a deal". He also visited the Moriah College Jewish day school in Sydney, where he sat in on a Hebrew class and spoke to the students.
Musk calls this planned expedition an "important milestone as we work towards our ultimate goal of transporting humans to Mars". NASA's Commercial Crew Program, which provided most of the funding for Dragon 2 development, is a key enabler for this mission.
The source also remarks Netflix handling the film instead of Paramount ensures Scorsese "can make the project he wants". Now, however, seven years after the film was announced, The Irishman has found a worldwide buyer in Netflix .
Oil futures ended higher Thursday, maintaining gains after data showed a smaller-than-expected rise in US crude inventories. The oil for delivery in far-month April also fell Rs 62 or 1.68 per cent to Rs 3,635 per barrel in 3,026 lots.
So in as much as stakeholders are heavily spending on ads, their audience is also responding very well to what they are offering. In addition to this, there’s a wide variety of games which the platform offers to cater for all types of gamers.
Just like modern stars Cristiano Ronaldo and Lionel Messi have made soccer all the more popular in the United States of America. Still unsure? The series has been shown online since 2010, and the demand to watch it shows the growth is likely to continue.
Season of Big Bash was expanded
Female Rebel BBL starts their season from the 9th f December, which is 10 days earlier from the male season of KFC BBL games. Fans of cricket across the world can see the online stream at the official Australian cricket website, and throw its app.
At $17 a share, Snap hopes to raise $3.4 bn in IPO
Snap shares are set to start trading on the New York Stock Exchange under the ticker SNAP Thursday. "Everyone is super happy". Michael Lynton recently stepped down from his role as CEO of Sony Entertainment to become the chairman of Snap .
Donald Trump Couldn't Silence This Syrian Oscar Winner
Khateeb had obtained a visa to enter the United States , but had been detained earlier this week in Turkey for unknown reasons. Khatib, aside from carrying a camera for the film, is a White Helmet himself. "I look forward to meeting them all one day".