LeEco Closing in US and India

Chinese TV company, LeEco, which has hit financial trouble, has cancelled a plan to raise money via some bonds and has closed its operations in the US and India, laying off staff. In April, the company pulled out of a plan to buy Vizio (LeEco Abandons Acquisition of Vizio)

Analyst Comment

The company’s electric car initiative also looks to be in some trouble. We conctacted staff who confirmed that the US operation would close. (BR)