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LeEco stops mobile business, will focus only on Television business In China

LeEco, once an Internet company has stopped its mobile business within 2 years of its launch. 

Now selling only Tv through their china lemall portal . you wont be able to purchase any smartphone from them now onwards. moreover you won't be getting any service and software updates from now on.

After its entry into India, the company launched five superphones, a LeEco membership of content and internet services, an e-commerce platform LeMall and, most recently, "SuperTVs".

The SuperTVs, incidentally, were launched in the presence of Minister of State for Electronics and IT P.P. Chaudhary in March -- at a time when news of LeEco sacking 85 per cent of its staff and winding up its India operations were already creating ripples.

"As the demand for electronic hardware is expected to zoom to $400 billion by 2020, it is heartening to see foreign companies such as LeEco entering the Indian market and showing willingness to invest in the country," Minister Chaudhary had told reporters at the launch of the SuperTVs.

Former LeEco employees are now asking how it is possible for a company to come to India, set up shop, announce multi-million rupee manufacturing plans in the presence of cabinet ministers, and disappear as if nothing has happened.

"We need stringent rules in place for the companies who come up with big plans and vanish without any responsibility towards its employees," one ex-employee said.

In August last year, LeEco had also announced a $7 million manufacturing unit in Greater Noida in the presence of then IT Minister Ravi Shankar Prasad.

LeEco planned to ramp up the production to approximately 200,000 "superphones" per month by the end of 2016, before a severe global financial crunch caught up with the company at the end of the year.

The company's market share has dropped from 1.4 per cent to a mere 0.1 per cent (Year-on-Year) during the first quarter this year.

Bhakti Dua covers Technology and Automotive industry.

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