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It has only been four months that <keyword id="2784463" type="UNKNOWN" weightage="100" keywordseo="Jia-Yueting">Jia Yueting</keyword>, founder of <keyword id="3205550" type="UNKNOWN" weightage="100" keywordseo="LeEco">LeEco</keyword>, announced that his company was fast running out of cash, and now, as per reports, the company has fired 85% of its India staff, followed by two leadership exits. 
 
Industry experts believe this to be a sign of the start of the end of company’s stint in India. 
 
Also read: <a href="http://www.businessinsider.in/Le-Eco-is-now-ambitious-to-reach-out-to-global-market/articleshow/55008299.cms">Le Eco is now ambitious to reach out to global market</a> 
 The two leadership exits that the company saw were of Atul Jain, COO of smart electronics business, and <keyword id="304558" type="PERSON" weightage="100" keywordseo="Debashish-Ghosh">Debashish Ghosh</keyword>, COO for Internet applications, services and content. 
 
In its <a href="http://www.businessinsider.in/LeEco-gets-new-APAC-President-and-secures-US600-million-new-funding/articleshow/55438255.cms">glorious days</a>, LeEco got the better of rivals like Xiaomi, Oppo and Vivo with an advertising budget as high as Rs 80 crore a month. However, in December, it started withdrawing sales through offline retail stores. A month before that, employees had got a mail from Jia Yueting, in which he said that the firm had burnt cash too quickly in a range of ventures from mobile phones to <a href="http://www.businessinsider.in/report-leecos-self-driving-car-was-actually-piloted-by-remote-control-and-designed-by-faraday-future/articleshow/56010316.cms">driverless cars</a>. 
 
Cost cutting was one of the possible solutions mentioned in the mail. 
 
Also read: <a href="http://www.businessinsider.in/LeEco-goes-from-massive-global-launch-in-the-U-S-to-cost-cutting-programs-in-China-to-India-becoming-the-companys-future-all-in-three-weeks/articleshow/55353378.cms">LeEco goes from massive global launch in the U.S. to cost cutting programs in China to India becoming the company’s future, all in three weeks</a> 
 
As per industry executives, LeEco would exit India because of both the financial crisis at the parent firm and their decision to focus on China and the US. <a href="http://www.businessinsider.in/Heres-how-smartphone-companies-across-all-segments-were-affected-by-demonetization/articleshow/55755850.cms">Demonetisation</a> also had a big role to play in the falling sales in the <keyword id="47445" type="UNKNOWN" weightage="100" keywordseo="Indian-market">Indian market</keyword>. 
 
However, LeEco India COO Alex Li denied any plans to exit the market or liquidate stock, stating that it was due to change in strategies that led to the layoffs. 
 
"All businesses need to be profitable to be sustainable. That has been the primary objective in taking certain measures, though the numbers (of layoffs) indicated are incorrect," Li told ET. 
 
It was in last February that LeEco had entered India, and became customers’ favourite because of great deals on smartphones and large-screen LED television sets. All of it was supported by big advertising budget of as much as Rs 80 crore per month, which possibly led to the downfall. 
 
(Image source: Android Headlines)

With 85% of its staff gone, LeEco might soon exit India

<keyword id="3205550" type="UNKNOWN" weightage="100" keywordseo="LeEco">LeEco</keyword>, the global internet and technology conglomerate, which has created ripples in the Indian market for being a disruptive and innovative brand has launched its first radio campaign nationally. The radio campaign spots have been conceptualized by Orchard , a unit of Leo Burnett Ad agency and implemented by Madison and will run across 7 radio channels in Tier 1 &amp; 2 cities. 
 
<keyword id="3264116" type="UNKNOWN" weightage="100" keywordseo="LeEco-Day">LeEco Day</keyword> v2.0, the company’s second super offer carnival in India will be held on the 7th and 8th of April and will offer unprecedented gifts and discounts to its customers on Flipkart. From a chance to win Mahindra KUV 100 as a bumper prize, to an easy exchange offer, the carnival will be an exciting day for Indian buyers. 
 
To promote the same, LeEco has collaborated with major radio channels across the country like Red FM, Fever 104 FM, Radio Mirchi, Big FM, Radio City, My FM, and Radio Tadka. Channels across Delhi, Mumbai, Bangalore, Chandigarh, Indore, Lucknow, Patna, Surat, Jaipur, Kolkata, Ahmedabad, Pune, Chennai and Hyderabad, will air details on offers and discounts, users can avail on LeEco day. 
 
Through this campaign, the company aims to target the age group of 15-30 years by enticing them to upgrade from their existing smartphones to LeEco’s Superphones. 
 
Talking about the campaign, Atul Jain, COO LeEco India said, “LeEco’s philosophy has been to provide customers with an encompassing and unprecedented experience. Our initiatives like the LeECo Day are part of our efforts to go-beyond customer expectations and provide them with the ‘Le experience’ we are known for globally. Considering most of our users are millennials and listen to radio which commuting, we decided to promote the LeEco Day at such a large scale over radio. We are sure that customers will make use of the LeEco Day 2.0 to the fullest and join the family of superphone users.” 
 
Since the launch of its phones the Le 1s and Le Max, LeEco devices have established themselves as the phone of choice among users, with their best in class performance and competitive pricing. LeEco has been aggressively marketing its devices in India and has already been present across traditional and new media outlets since January 2016.

LeEco tunes into FM for LeEco Day; launches high blitz radio campaign

Strengthening its foothold in India, <keyword id="3205550" type="UNKNOWN" weightage="20" keywordseo="LeEco">LeEco</keyword>, the global technology and internet conglomerate, has filed an application with the Foreign Investment Promotion Board (FIPB) for undertaking single brand retail trading of electronic products both through brick and mortar stores and e-commerce portal. The company has also sought relaxation from the 30% domestic sourcing rule so that it can bring in "cutting edge technology" and “state-of-the-art” features to Indian consumers. 
 
The technology and internet giant which entered the India market early this year in January, introducing its unique Ecosystem model and launching its two Superphone models- Le 1s and Le Max, has received a great response from industry as well as consumers in a short span of time. Owing to its breakthrough technology, disruptive pricing and comprehensive vertically integrated ecosystem, the brand has created ‘market disruption’ in true sense, which is also evident from the milestones its Superphones have created in the industry. 
 
With plans to open fully owned exclusive retail stores in top 8 to 10 cities, starting with New Delhi, Mumbai, Bengaluru, LeEco plans to display its entire Ecosystem ranging from phones, TVs, VR Headsets, Bluetooth devices and power banks. Additionally, the company will also open 500 franchise stores to ensure its consumers can experience their breakthrough products and unique content integrated offerings across its device ecosystem. 
 
"India is a key market for LeEco and we plan to significantly invest in setting up our business model in the country. We are committed to offering our users cutting edge technology at disruptive prices. We have received a great response from consumers so far for our Superphones and now plan to strengthen our presence in the market by opening our own stores and e-commerce portal to offer our users the best-in-class experience”, said Atul Jain, COO, Smart Electronics Business, LeEco India. 
 
“We at LeEco are also aligned with the Government’s Make in India initiative and also plan to start manufacturing in India very soon”, he added. 
 
Earlier this month, the global player also announced setting up in-house Content Delivery Networks (CDNs) in 10 cities across India by end of 2016, making a significant investment of over 10 million USD to set up this CDN/cloud infrastructure. Offering consumers a comprehensive Ecosystem, which is unique to the company globally, LeEco plans to replicate its successful model in India. Also, LeEco had shared its plans to set-up our R&amp;D centre in Bangalore with a staff of 1000 employees by the end of 2016. 
 
LeEco has a comprehensive ecosystem model globally consisting of devices, content, cloud and a user interface platform, which clearly sets apart the company in the technology and internet space in India as well. The LeEco devices connected by Le Ecosystem are the company’s biggest differentiator.

LeEco Files for FIPB Application

<keyword id="3205550" type="UNKNOWN" weightage="20" keywordseo="LeEco">LeEco</keyword> is on a record breaking spree. The company has now claimed that it sold 200,000 superphones-Le 1s and Le Max- in just 30 days. Lately, <keyword id="3115791" type="UNKNOWN" weightage="20" keywordseo="Le-1s">Le 1s</keyword> and <keyword id="2861359" type="UNKNOWN" weightage="20" keywordseo="LE-MAX">Le Max</keyword> have received unprecedented response. 
 
"The incredible response from our consumers is very humbling and it re-affirms that our proposition of breakthrough technology, comprehensive ecosystem and sustainable disruptive pricing is being well received by our consumers," said Atul Jain, COO, Smart Electronic Devices, LeEco India. 
 
Earlier, the company claimed it created industry records during its flash sale of Le 1s, which received 20,28,000 registrations across its three flash sales. 
 
LeEco is on a continual growth track and pursuing its goals in India. It is aggressively attracting Indian consumers with their superphones. 
 
The company recently organised LeEco Day, during which the company had put up exciting offers and benefits valued at around Rs 8 crore.

LeEco creates another record, claims to sell two lakh units in 30 days

<keyword id="3205550" type="UNKNOWN" weightage="20" keywordseo="LeEco">LeEco</keyword> went on a selling spree on Tuesday as 70,000 Le 1s were sold out in just two seconds on Flipkart. Prior to the sale, total 605,000 registrations were received by the Chinese firm. 
 
This is said to be a groundbreaking record as no mobile brand in India has achieved this so far. 
 LeEco, which entered India on January 20, introduced two ‘SuperPhones’, <keyword id="2861359" type="UNKNOWN" weightage="20" keywordseo="LE-MAX">Le Max</keyword> and Le 1s. 
 
LeEco’s Le 1s is known as the ‘flagship killer’ is expected to capture a significant share of the massive middle-class market with its price and specifications. 
 
 
 
"I am so proud of our achievement and the magic number of 70,000 in just 2 seconds which has never before been achieved by any other smartphone brand. I am so grateful for the trust consumers have vested in us and I am sure they'll have a great experience in using our products," said Atul Jain, COO, Smart Electronics Business, LeEco India. 
 
Priced at Rs 10,999, Le 1s has a metal unibody, a world's first mirror-surface finger scanner, and a 5.5" FHD display, the flagship processor of the year Helio X10 Turbo, 3GB Ram and 32 GB Storage, dual-SIM card slots, 4G LTE support, and USB Type-C port. 
 
It is fitted with 13-megapixel f/2.0 rear camera, and 5-megapixel wide angle selfie camera.

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With 85% of its staff gone, LeEco might soon exit India

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LeEco creates another record, claims to sell two lakh units in 30 days

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LeEco sells 70,000 phones in just 2 seconds, breaks records!

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