LeEco Failure Hits Truly Profit

We have reported on the struggles of LeEco to survive (LeEco Still Struggling to Survive) and now Truly Semiconductor has said that it will have to right off $71 million because of a doubtful debt from a Chinese smartphone company, reported to be LeMobile, the subsidiary of LeEco. The write off will mean a big drop in profits for Truly and on the news, the company’s share price was strongly impacted.